Nose: Initially the nose displays a finely balanced combination of deep fruits, apple cider and malt extract. There are oloroso sherry aromas of nuts and autumn leaves with honeyed and mild aromatic oak notes. The oak has a sandalwood quality. The nose acquires a leathery fragrance over time as the initial sweet tones subside, and over extended time it gains a dark toffee note. Palate: A rich, finely structured sherry oak arrival that at first shows delicate spice and then eventually more grippy tannins as it develops. This oak contribution gives it a slightly bitter but oily nutty character, and there is also the flavour of coffee grounds, dark chocolate and bitter marmalade. The texture is moderately oily, but not heavy. Finish: Medium/long. The mild coffee and dark chocolate notes linger into an aftertaste of dilute over-brewed black tea. The nose is well balanced and multi-faceted, but in it's soul this is a woody aroma - it's just that the oak is so well tempered and soft that it never overtakes any of the other notes. The cask management was perfect and over time the nose gains a pillowy, luxurious nature without ever becoming cloying or syrupy. For me it's a textbook example of a well done sherried Speyside nose, and very typical of old Glenlivet. The palate is more assertive than the nose and has more oak dryness. This is tempered by an oily, nutty quality that lends balance without veering into sweetness. It's an interesting palate because from the entry you think that it will progress sweetly but instead it evolves towards dry, woody characteristics that almost border on astringincy. These notes continue to build into the the finish. With extended time in the glass the palate gains tobacco notes. Water considerably mutes the nose and the whisky suffers, fracturing rapidly into a ghost of its true self. At 43% this cannot take much water and I much preferred the character of the neat nose. The palate fares similarly, becoming insipid and developing a one-note simplicity with water. Although I generally prefer my single malts with a drop of water, this is one that I would encourage you to take neat as for all its seeming strength of presentation it is quite fragile. Elegant, dry and bordering on austere. This is a very good whisky but I did feel that it is way overpriced and consequently I won't be seeking out a bottle. Tasted from a 30ml sampler. "Very Good" : 86/100 (4 stars)