When I make steaks (got 2 nice ~1.75lb ribeyes marinading now) I let them marinade for 48 hours, together, practically fully submerged in my marinade.
I use orange juice a lot in my marinades cause it absorbs well into the meat and tastes awesome with some bbq or teryaki.
Right now my ribeyes have a bottle of BBQ sauce, EVOO, salt, pepper, garlic, and some tobasco. The most important thing I have learned from cooking steaks is that, at no point in the grilling process should you puncture the steak, because it looses all the juices. Grill to medium rare and eat, mmmm.