To summarize some of the "facts" presented so far in this thread (trying to keep this general so that no matter what your personal preference in coffee is):
1. Choose the coffee that YOU prefer. If it's cheap, more power to ya. There is some correlation between price and quality, but price is also affected by trendiness of a particular bean (e.g., Jamaica Blue Mountain); supply (Kona produces less than Costa Rica); organic/biodynamic farming methods; and "fair trade" status (see "trendiness").
2. Each type of bean has an optimum roasting point beyond which the flavor is diminished. Make sure the bean you like is not overroasted.
3. Minimize the time from roasting to grinding the beans.
4. Minimize the time from grinding to brewing the beans.
5. Use quality water for your brew.
6. Excluding espresso, the preferred method for making coffee is with the French press. (This point may be met with more disagreement than the previous four).