Regards, Ivan
Spanish wine is really coming around. I've had some very acceptable bottles and have started drinking it over the last year or so. The Italians have also started to produce some very good bottles over the last ten years or so, though you have to know what bottle you are getting into.
Even if the French are venal and unprincipled bastards, they can produce very good wines. In terms of value though, you there is only a very narrow range of French wines that are worth the money. Those are the 2nd tier bottlings of the ultra-premium vineyards, which you can get in the US for about $20-30. Essentially as good as the 1st tier bottles, but without the few hundred dollar price tag. These bottles are very competitive quality-wise with the California wines for the dollar, which incidentally are excellent these days, both the 1999 and 2001 (2000 sucks).
California wines have become so cheap in the US these days, due to the wine glut, that generally we just drink Californian.