Peli, shouldn't the definitive critic be European? I mean Many more centuries in the business???
Just joking! Hehehehe
Well, if you want to impress other fellas with how much you pay for a wine, it's easy, but if you want to pay fair for a good wine you will have to really study a bit. For instance a VERY good French wine would cost you around EUR200 - retail - while at the same price range you could buy a Top Notch Portuguese or Spanish wine that would even beat the French one. Still France and Italy produce wines with much more quality than their Iberian Counterparts, but I'd rather pay 50% less and drink twice (not on the same day, usually

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Read some Wine Spectator, go to Amazon and read some of the reviews on the guides too. Start drinking some, don't buy for the price and please don't just drink Cabernet these grapes grow anywhere, try Malbec, Pinot Noir, Trincadeira, etc...