Despite drawing with the side third bottom in the Scottish Premier League, Caley Thistle held on to second spot following a run of just one defeat in their previous 18 matches in all competitions.
Caley Thistle went behind after just 76 seconds following a striker from Dougie Imrie only for Andrew Shinnie to equalise after 38 minutes.
Stephen Thompson put St Mirren back in the driving seat 10 minutes after the restart but Inverness captain Richie Foran headed the home side level again with 67 minutes played.
Butcher said: "I thought it was a hell of a game for the fans and terrific value in terms of entertainment.
"We should charge any neutrals coming to our games more money because we provide marvellous entertainment.
"We were terrific going forward and on chances we could have won. Every time we went forward we looked as if we could score.
"Mind you, they were the same and right at the end we could have lost when they hit the post and the bar, so a point apiece is probably a fair result after what was a very open game against a team who played some lovely football and passed the ball well."
Butcher praised teenager Matthew Cooper, making his first start in place of injured central defender Josh Meeking, who was sidelined by a groin strain.
The 18-year-old looked impressive and Butcher said: "It was good that we were able to bring in another young player, and I thought we showed great character to twice come from behind.
"That shows the spirit among the players and it's another good point for us.
"I thought Andy Shinnie was terrific they way he led us forward all the time and he deserved the man-of-the-match award."