Cogito wrote:No, I don't want frozen margaritas. Licuado, please.
My apologies...I would definitely forego the limeade.
I think you can do pretty well with any 3-2-1 recipe. 3 parts tequila, 2 parts lime, 1 part orange liqueur.
There are a lot of variations within that, but even at your most basic (Cuervo, fresh lime, triple sec), you've got a decent enough drink.
I slightly prefer Sauza tequila at the low end. I wouldn't go for Montezuma, et al., but to be honest, I've not really done my homework on best tequila for margaritas. Sounds like a good project. Point is, a $10-15 bottle will work just fine.
For my lime, I like to mix a little simple syrup with fresh lime juice...maybe 1/4 of the total. You could probably also mix some powdered sugar to cut the sour a little. I've been known to use Rose's here, too, and I prefer that to a sour mix, though of all the variables listed herein, the one between a processed mixer and fresh lime juice is, in my opinion, by far the most significant.
Cointreau, e.g., makes a smoother but not too smooth finished product, but it also costs a lot more than Hiram Walker, and I find the triple sec version quite enjoyable in its own right.
Good luck.