Trim The Beef And Cut into 1/2-inch cubes. Rub with 1 tablespoon chili and 2 tablespoons olive oil. Marinate in refrigerator several hours or overnight. Heat remaining oil in a stew pot and add as much meat as will fit in one layer in the pot. Saute until browned on all sides. Remove to a bowl and repeat process in batches with remaining meat. When all the meat is browned, add the onion to the pot and saute until softened. Return the meat and accumulated juices to the pot and add all remaining ingredients. Cook partially covered over medium heat for 1 1/4 hours. Remove bay leaf. Serve with sour cream, chopped cilantro and lime wedges.