I've been struggling with this question for a long time. Ten years ago
someone on ba.food asked whether Trader Joe's house label Cabernet
Franc at $4.99 bottle was 2 1/2 times better than Two-Buck Chuck. Not
an easy question; don't forget, computers weren't as powerful then as
they are now. But you ask for precision, so here you go, from November
24, 2003:
evergene wrote:
>The Volker Eisele '98 Cab is eight times better than Two-Buck Chuck.
>But at $30 or $35 a bottle, a bottle of the Volker Eisele costs about
>twice as much as eight bottles of Two-Buck Chuck. Two-Buck Chuck is
>clearly the better value, if you drink eight glasses of it for every
>one glass of Volker Eisele that you'd otherwise have drunk.
>
>However, the Volker Eisele '98 Cab is also twice as good as Miner
>Family 1998 "Oakville" Cab ($60), and exactly as good as Rombauer 1999
>Napa Valley Cab ($36.75), so you can drink a glass of Volker Eisele
>followed by only half a glass of Miner, and then a single but not
>quite full glass of Rombauer, rather than 24 glasses of Two-Buck
>Chuck.
https://groups.google.com/group/ba.food/msg/723cda19aa980063?dmode=source&output=gplain&noredirect
Thread:
https://groups.google.com/forum/?hl=en&fromgroups=#!topic/ba.food/yE4YHfHI3jg
I guess that about says it all. Or at least 85% of it all.