People regard filet mignon as the best steak you can buy. It's tender and velvety and has a subtle flavor that doesn't need much more than salt and pepper to make it taste delicious. Such decadence isn't cheap: A center-cut piece can go for $30 a pound. Rib eye, though, is only slightly less tender, can be even more flavorful, since it has more fat—and runs about $16 a pound. Pan-frying is your best bet with this cut (grilling can be dicey because of the fat, which can catch fire).
Switch and save: $14 per pound