Complex nose, even confounding... seems to change with each pour. Without water, a sharp spiced rummy caramel, bold sweet oak. Touch of salty cooking sherry. With water, dry apple & pear, light smoke, hint of ginger and menthol. Spicy-sweet malt on the palate, some earthy peat, notable burn, but fades quickly. Dry finish, with bitter spice and earthy charcoal. In my opinion, like a more challenging, rough-and-tumble Glenfiddich, less "Highland Gentleman" and more "Surly Rover". Surprising for a speysider, but a little ragged. Not really my dram. Dry Glass: faint cumin and ...smoked cheese...? Weird...