In my kitchen, ancho powder is my "go-to" chile powder favorite. First, make sure to select a pure powder with no preservatives for best flavor. Although traditionally used in chile sauces as well as in soups and stews you can find ancho powder in everything from chocolate truffles (see recipes) to cakes and brownies.
I keep a 1lb canister handy in my cupboard. I use it in my favorite Cajun spice mixture and I've even added to my Chocolate Espresso Pot de Creme recipe. If I want to make quick fajitas I just slice some beef very thin and coat the slices in ancho powder. Then I sauté the coated slices quickly, add some sliced onions and red or orange bell peppers, and finish it with a splash of Tequila.