In terms of value: For red, Portugal can't be beat. For white, Gascogne.

Tempranillo. It's light like a Pinot Noir, but without the cachet that the Sideways movie gave, so they tend to be cheaper.

I am super pissed in a not actually pissed at all sorts of way that my local liquor stores seem to be stocking entirely 100% tempranillo. I don't know if Spain just gave into the American obsession with varietals or what but personally I love a 70-90 trempranillo but it's very much a grape that benefits from a blend.