Here's a fairly bombproof method for rack of lamb. Next time I make it I'll take pics of the whole process.
I use the cryo packed Australian racks readily available at most grocery stores. I like to "French" the bones. Using a paring knife, I trim the fatty meat between the bones and scrape the bones themselves as clean as I can. Season the rack on both sides and sear in a saucepan with a little olive oil. Set the rack aside to cool. In that saucepan, brown the trim you removed while Frenching the rack. The more fat you put in, the "lambier" the sauce will be. Add some shallot and garlic and saute until translucent.
When the rack has cooled, brush with mayonnaise and coat with your breadcrumb product of choice. I like to use panko. The mayo makes the breadcrumbs adhere to the meat and will dissolve during cooking so you'll never know it was ever there.
Back to the sauce. Deglaze the pan with red wine and reduce by half. Add beef stock and your jelly/preserves product of choice. Currant jelly is probably the default choice, but lately I've been using this cherry preserves I found at the local grocery store. Use a lot of jelly--damn near the whole jar. Let this simmer and reduce for a half hour or so, or until the consistency is fairly thick. You can finish off heat with butter or not; strain to serve.
Back to the lamb. Roast the coated rack in a 375 degree oven until done to your liking. In my oven, I get to medium rare in about 8 minutes. A thermometer is key here.
Here's the finished product...
...and the two year old who ate it
<message edited by docbigsky on Wed, 08/8/12 4:35 PM>