I just returned from my local Trader Joe's (on Masonic in San Francisco). For the first time I have seen there, they are selling a 2003 Foppiano Estate Bottled Merlot (Russian River Valley) for $5.99. This is wine made from grapes grown by Foppiano in their vineyards.
This wine usually sells for a minimum of $12-$14 a bottle. Foppiano has been making wine for over 100 years and usually does a very nice job with their red wines. I have not tried it yet, but I am confident the wine is worth at least $7 a bottle!