I picked up a bottle of Red Diamond Cabernet from ABC recently, and I was pleasantly surprised by how good it is, especially for the price point (~$10-12). It is smooth and flavorful, without being acidic or bitter. I will be purchasing this again.
This is a decent cheap wine, but the Red the Diamond Temperamental is by far a better choice than the cab for about the same cost. The web site describes it as a Spanish red blend of with hints blackberries and dark chocolate. Definitely worth a try.