What MaG said... especially the part about a good Pinot Noir usually ending up inside me!
It depends on the end result desired - a sweet red for a bit more of a sweet taste and a dryer wine for less sweetness. Cabernet is also my first choice, but I've found an unoaked Merlot that I really like too. Unfortunately, it's also one that usually ends up inside me!
I totally agree with Draclvr! Buy the 'good' stuff. My oriental neighbor who was an awesome cook took me shopping for groceries and 'schooled' me on what to buy. She said to buy the most expensive Sake you could afford and the food would be much better. She was so right. Same for any other ingredients. Buy the best. I still have some left in that bottle. I use it for a steak sauce I make. Yummmm.