Cheap vodka sucks! Do yourself a favor and save up a little bit and get some good quality vodka. I don't have much experience with the high quality stuff, but for a really good mid quality vodka, you can't go wrong with Pearl. Grey Goose and Belvedere are some great higher quality vodkas, but can be a bit pricey. If I have to drink cheap vodka, I go with Taaka. It's cheaper than Smirnoff, and tastes almost identical, if not better.
My favorite drink at the moment would be the good ol' margarita. Take 6oz. of Jose Quervo Margarita mix, 2oz. Jose Quervo Tequila, and 1oz. of Amaretto. Shake with ice and serve in a salted glass, or throw a pinch of kosher salt in with it. Hmm... it's 3 a.m. and 30 degrees F outside... think I'll go make me another margarita to warm up a bit :D