Amongst European wine producing countries, Portugal might be the place to look for best wine bang for your bucks, especially if you look for sales items at your local wine store.
I just picked a bottle of Quinta do Serrado 'Colheita' 2008 and was pleased by this full bodied red which opens with scents of black fruit and whose finish lingers on your palate.
This Dao blend of Tinta Toriz, Touriga Nacional and Jaen was a steal for the $7 and change I paid for it.
What table wine should be!
If you are new to Portuguese wines, a good place to start is Wines of Portugal where you can learn about the various regions and wine styles as well as places where you can find wines like this Colheita 2008.