Cheap, but good....
Now that is a contradiction in terms!!! With the price of good beef today!!!
Here are some tips that might help. First, cheaper meat is usually the meat that has to be slow cooked for a longer period of time to tenderize it. So, a cheaper cut of meat might not make a good 'perfect rare'.
If you really want a good steak, then prepare to splurge and pay for more than $5.00 per cut.
I love a good New York Strip.
T-Bones are always good.
Some people like Rib-eye, but that cut has a lot of fat marbled in. Not really my favorite.
Remember, about the grade of the beef. U.S.Select is the LOWER grade. Sometimes it can be good... look for one that has some lighter colored fat streaked thru the red meat. (not major marbling, but tiny streaks... That fat is tender. That cut will be more tender.
For a better steak, look for an even better grade of beef. I think in most stores that would be CAB (Certified Angus) But, be prepared to open your wallet!!!
When cooking... set the meat out and let the chill wear off for a little while. A steak that is only 'cool' will cook a lot faster and evenly than a steak that is very chilled. Less burning and overcooking on the outside in order to get the amount of doneness "perfect rare" on the inside!
Man.. now I want a big steak!!!