We eat at Fleming's once a month or so. I really like their food: good appetizers, great steaks (I know there are much better out there, but I like theirs quite a bit) and some tasty side items. I used to order wines by the bottle, usually from their reserve list. Every now and then there'd be a great find on there and it was fun to splurge. Lately though, I've been ordering wines by the glass. The markup is high, but with over 100 wines be the glass, I can generally find something for under $15 that I'll really enjoy.
We were just there Saturday night and spent $75 on 6 different glasses of wine, of which I enjoyed 4 of them very much. Not bad when you consider that a bottle of wine at most places is $75.
Is there markup on some wines insane? Yes, but that doesn't mean you can't find some good drinkers at decent prices. I'll continue going back, especially for bone-in ribeyes and veal
One final note, the service is always outstanding which is initially why we kept coming back.