A little about the process and philosophy here, as I have always appreciated Michter's strategy as a true labor of love, and careful crafting. Michter's goes into the barrel at the lowest entry proof of any current bourbon or rye (105 vs industry standard of about 125) that is huge and was at ine time the gold standard for bourbon entry. Their barrels get lightly toasted, set aside, THEN are charred in a second process in order to release more sugars and less tannins. The distillate can get deeper into the wood, and their limited releases often utilize a second, naturally toasted barrel instead of a quick dunk in a former wine or additional used spirit barrel in order to add a more natural oak finish. What does all that mean, and why is it important to this bourbon? Let me break it down for you: 1. On the upside- Lower entry proof means less added water reach the final proof. You are getting more of the finished product closer to its barrrl proof. The yield is generally fuller, richer, and buttery. Downside- More angel's share yields less bottles and increases the price. When each barrel yield is less, the price goes up 2. Upside- The extra barrel toasting step imparts a delicious sweetness, and a more natural finish, (especially on the toasted barrel process like this one). Downside- it is expensive and time consuming as the barrels sit for longer aftrr the first step before filling, and the toasted finishing takes longer to achieve. It takes Michter's awhile to crank these out so their releases are sporadic. So on to this one. The nose is caramel and brown sugar. Not as sweet as their sour mash, but it is candy-like. The taste starts sweet and then pepper kicks in. A bit of bitterness is imparted that gives way to a more doughy, bread-type flavor. Think that yeasty pizza dough or fresh kneaded bread smell, but in a healthy taste. I am thinking this has alot to do with the toasted finish as I don't find this in the standard bourbon. It is different and well recieved. The finish is long and a bit spicier. Where the nose was sweet, the finish gives you more allspice and vanilla. All in all this is a pretty good one. Not my favorite Michter's (I prefer rye from them, and find their barrel proof and toasted finished rye to be among the best rye out there every year), but it is somewhere in the middle. If you can get this around the msrp of 69.99 it is a buy. Not worth some of the crazy secondary prices though.