This whiskey is very sensitive to water. Adding a "splash" instead of just two-three drops transforms it into another bourbon, altogether. I wish the nose weren't as astringent/alcohol heavy; even water doesn't take the edge off much. Neat: I do love the oak and smoke, as well as the sweet, but deep, vanilla finish with a light brown sugar dust. But the spice carries a bit too much of a sucker-punch; maybe two more years in the barrel would make it just right. Water: The spice makes a hasty retreat, but the vanilla-brown sugar dust duo is still going strong. The oak stops tasting as good, though, turning into sawdust. My recommendation: start neat, but don't stick your nose too far into the glass. A quick whiff from the top of the rim, followed by a tiny sip coating the whole tongue on the way down will tell you what this one's all about. Add one drop, smell/taste the difference, then do it two more times before settling in, and enjoy the ride. ///Update: This may be true of all bourbon, but the swallow speed makes a difference. Give this one enough time to coat the tongue, like I said before, but swallow fast if you want a sweeter finish. Swallow slow if you want a spicy, syrupy one. [$29.99 at Costco in DC]