Cheap red pasta sauce

The world has waited for this long enough. Here's my basic red tomato/meat sauce for spaghetti; what they might call "gravy" on The Sopranos:

* 1 medium onion, chopped
* 3 cloves garlic, minced
* 1 lb lean ground beef (but not TOO lean)
* 2 28oz cans tomato puree
* 1 28oz can italian plum tomatoes
* 1 tbsp ground oregano
* 1 tsp dried thyme
* 3 bay leaves
* 1 tsp dried basil
* 1 tsp salt
* 1/4 tsp sugar
* black pepper to taste
* olive oil

Saute onion and garlic in olive oil till translucent. Remove to bowl and reserve.

Brown ground beef in same pot. (This is, ideally, an enameled dutch oven or a stainless-steel pressure cooker.) Add half the oregano while the beef is browning. Drain any grease you consider to be excessive.

Add everything else. Simmer slowly several hours, or pressure-cook 1/2 hour, release pressure, check for sticking and taste, pressure-cook an additional 1/2 hour if you think it needs it and can take it.

I'm pretty sure this is the same recipe my dad made going back to when I was 4 or 5 years old.