Lisa, isn't that technically deep-frying? :wink: I'm not being critical, mind you -- sounds amazing.
In terms of first principles, selecting a good cut of meat is key (a well-marbled ribeye is my favorite). Searing is a double-edged sword: for decades the conventional wisdom has been that it seals in liquid, but it turns out that's not true. In fact, it dries meat out a bit, but that mostly happens right at the surface where you don't notice it so much, and the upside is it does caramelize it and improve the flavor. Last thing is, resting for 5-10 min. or so allows juices to reintegrate back into the meat. One way to do this without letting the meat cool down too much is to wrap it in aluminum foil and throw it in a cooler full of bunched-up newspaper.
As to preparation, meat lovers say that the only acceptable seasonings are salt and pepper. Colleen does a phenomenal Tuscan steak using salt, pepper, and lemon. That said, I wooed her in part with a ribeye recipe featuring a marinade consisting of chopped garlic, soy sauce, and peppercorn (not dijon) mustard -- throw all three in a Ziploc along with the steak, marinate for a half-hour or so, and then throw on the grill.
On the grill, I tend to use direct heat and lots of it, and pull the steaks off when they've firmed up to the point that I'm pretty sure they're right around medium rare. That's hard to quantify... maybe a third to a half of the way from raw-floppy to stiff-overdone. Better to use a meat thermometer to get to the desired internal temp if unsure.
Good luck. (Writing this really makes me salivate... man, I like steak.)
EDIT -- funny, just after writing this I happened across this recipe for New York strip steaks. It involves making a salt-and-egg-white crust around the steaks and baking them in the oven... a technique I've heard of with other meat but have never tried myself. Interesting....