Dr. Jebediah Drinkwell's Meritage Paso Robles 2007 ($6.99, Trader Joe's)
Here's a great example of what Trader Joe's does well. They have some really good, inexpensive wines.
Despite the ridiculous name and cheesy label, this is a tasty bottle of wine. Why anyone would choose Yellow Tail Shiraz or the like over this is way beyond my comprehension.
Did I mention the cheesy label? Let me draw your attention to the back label.
I'm guessing the way it works with wines like this is: TJ's contracts with a big wine outfit (Central Coast Wine Warehouse in this case) that creates a custom blend and an exclusive label for the chain. To their credit, TJ's does a great job of picking interesting, drinkable blends (which I have a particular affection for).
This is a Bordeaux-via-Paso Robles blend of mostly cabernet franc with merlot, cabernet sauvignon, malbec and petite verdot in descending prominence. The flavors and aromas are black cherry, blackberry, dark chocolate and bell pepper with a firm grip of tannins at the end.
It's tasty and amazingly well-balanced for the price.