First, let's talk about tequilla. Tequilla is made from agave plants, and by law they have to be at least 50% agave. Lesson 1, only buy tequilla that is 100% agave, if it doesn't say 100% agave or "pure agave" it is likely using cheap indredients like corn syrup or cheap alcohol.
Once that is out of the way there are two primary factors to know about, aging and barrels. The four types of tequilla denote the age
- Blanco – aged less than 59 days
- Reposado – aged 60 days to 1 year
- Añejo – aged 1-3 years
- Extra Añejo – aged 3 or more years
Then there are 3 common barrels used; french oak, white oak or bourbon barrel.
Now that we know the terminology it's time to answer the question, is patron tequilla worth it? I'm going to cop out and say that it depends on your taste. You need to try a few different ages from different types of barrel and see what works for you. But fear not, I'm going to let you in on a little secret.
There is a great bargain tequilla that you should try. It's fantastic and half the price. The brand is El Ultimo Agave, and they have a great Reposado as well as a great Añejo. In California they carry this brand in Ralph's. I have a hard time buying the more expensive tequillas when this one is so good.

Great post. I love a good margarita. I normally get cazadores, but I'll try el ultimo the next chance I get.