I would pass on the 2 buck chuck if I were you. It is ok if you haven't had anything except "box wines."
My favorite type of red wines are Cabernet Sauvignon and Malbec. That should tell you something about what kind of wines I like: bold reds!
I just had a fantastic excellent Cabernet Sauvignon that I would wholeheartedly recommend: Monticello Vineyards, Jefferson Cuvee Cabernet Sauvignon, Napa 2005. I found it for about $24.
If you are looking for "budget" wines, here are a few of my favorites:
Avalon, Napa Valley, Cabernet Sauvignon ~ $16; this wine is really excellent and competes with much more expensive wines. Note: Avalon also has a "California" version which has an orangish label. Do not get this wine, it is cheaper than the Napa version but far inferior!
Felipe Rutini Cabernet Sauvignon 2005 (Argentina) ~ $14; an excellent Malbec, very smooth.
Jean Bousquet Malbec (Argentina) ~ $11; another excellent Malbec, it is also organic. I buy it often.
Last and cheapest: Veo Grande Cabernet Sauvignon (Chile) ~ $7 at Sam's Club (maybe more other places); this is the best $7 wine I have tried in a long time. We buy it often for an every day table wine. Of course, it is not as good as the wines listed above but you can't beat the price!