I make a lot of jerky, usually around three pounds at a time.  That equates to about 12 pounds of wet meat.  After several years of trying different cuts, I've settled on Round Steak as my meat of choice.  The first thing is that it is very lean and the second, although no less important is its a cheap cut of meat.  I usually pick up 20 pounds at a time when it goes on sale here (Colorado).  Right now it's going for $1.29/lb on sale, last year it was 0.99/lb.

Like others mentioned above, I cut it into 1/4 inch strips and marinate if for 36 hours or so before I dehydrate it.  I have several different recipes that range from salty and spicy to sweet and tangy.  My friends love it so much that I give it away as gifts.

The best part is that around $5.00 you can make an entire pound (dehydrated).  Thats a savings of $12.00 - $15.00 per pound when compared to the store made brands.  Plus you get to make the flavor you like best.