The Wine Curmudgeon pointed me to this article in Slate: Drink Cheap Wine.
I totally agree. As I've said before, wine is all about you. It only matters what you think about a wine. There aren't any right or wrong answers. If you enjoy $3 bottle of wines, awesome!, by all means, enjoy away.
I have yet to find one that cheap that I like, but I would love to. Recently I did find a nice $10 Burgundy at the BevMo 5 cents sale ($10 after getting 2 for $20). After drinking it 5 nights in a row, my wife was asking for some variety, but I could have enjoyed the rest of the case over the next 7 nights. I do like variety, so I doubt I could drink it year round, but maybe.
Wine is an expensive indulgence and lowering your average bottle cost can be important, if you enjoy regularly.
365 * $10 = $3,650
365 * $35 = $12,775