I'm looking at some Michelin Cross Terrain tires. According to the guy I spoke to at the tire place, I can get the blackwall or the raised white lettering. However the raised white lettering version was $35-40 per tire more expensive. The guy said the only difference was cosmetic. Can this really be so - there's literally only a cosmetic difference but it makes a $40 difference per tire.

Yes, just for looks! Prices vary from store to store, and much of the time Michelin offers great rebates. This is the tire of choice for your type of vehicle. These are great riding tires, and wear forever. Just look at some testemonials at the tirerack.com