I'm still trying to figure out which Italian & Spanish wines are good. I bought 4 in the $20 range for the holidays myself (store gave a 15% discount, so I got them for 17). Jury is still out. I still have a hard time spending any more than that on something that is not from California. I like a nice (read: expensive) cab with a medium rare steak, but I'm not convinced you need to spend a lot to have a good Italian for a pasta meal.
I was mostly a beer guy until about 5 or 6 years ago. I'm still figuring this wine thing out. I know I like the good stuff, because my outside counsel buy it for me, and I can taste the difference. I'm still trying to find the balance of price and taste for my own purchases, however. I have expensive tastes, but I am a cheapskate as well. And yet, as I get older, I splurge a little more...fewer years left, so why not enjoy a little more.