Consider the Sweetness and Acidity of the Wine When Making It
It is believed that you should only cook with the wine you actually drink (that is, good wine). Serious Eats has tested this rule and found that the quality of the wine does not affect the taste as much as the other characteristics of the wine.
How sweet and sour the wine is will affect the dish much more. Daniel Gritzer writes that, for example, a slightly sweet Riesling, when reduced, can become almost syrup, and a tart Sauvinon Blanc will become very tart, almost lemon.
When it comes to cheap and expensive wines, don’t waste your money:
For the past few weeks, I have been cooking non-stop with wine, both red and white, to investigate the effect of their flavor on the dish. I have compared light reds with large tannins; fruity, tart whites to buttery, which have spent a lot of time in oak barrels; from semi-dry (read: slightly sweet) wines to dry; cheap wines to expensive ones; from lengthy to fast cooking methods. * I have found that while certain characteristics of the wine will influence the final meal, in most cases these differences are relatively minor. In many cases, this is practically irrelevant.
Even old, tainted wine can taste good when finished, but Serious Eats recommends using boxed wine for cooking.
Should you really only cook with the wine you drink? The Truth About Cooking With Wine | Serious food