I have issues when it comes to cooking with wine. I love putting booze in damn near everything (remember, the only thing lawyers like more than suing people is getting drunk), however, it tears me up inside to dump the contents of a $10 bottle into a slow cooker or Dutch oven. But, on the other hand, any good chef lives by the mantra, "if you wouldn't drink it, don't cook with it."
I have found a great, cheap brand of wine that is perfect for cooking, and isn't bad for drinking: Golden Gate. Jewel carries it, and it typically retails for $5.99 a bottle, but every time I've been to Jewel, it's been on sale for $2.99 a bottle. I've seen cabernet, merlot, chardonnay and pinot grigio. I try to have a couple bottles of the cab and the pinot grigio on hand at that price.
Perfect for cooking, good for drinking and easy on your wallet. High five.