I just had a glass of the 2006 Ata Rangi Crimson Pinot Noir. This made me think that there are now a number of excellent second tier Pinot Noirs on the market by leading producers, for less than $30 per bottle. Other examples would be Stoniers regular Pinot Noir or the Kooyong Massale.
This Crimson has a terrific balance of cherry fruit and savoury flavours. The fruit is not overly concentrated and would be from younger vines, but the wine making skills make this a very well balanced Pinot with reasonable length: better than a number of $40/bottle offerings.