Nose- Vanilla, stewed peaches, caramel drizzle. Nose is not as pronounced as III and is slightly a bit boozier Palate- big on vanilla, caramel, with some nice spices like nutmeg and allspice. I find it spicier- which is odd as this is predominately lower rye whiskies than the last one. I like the spice but I miss some of the fruitier notes like the fig and plum I found in the earlier version. Where III seems more subtle on spice IV, seems unabashedly spice forward-- a palate preference and not a knock. Absent for me is the anise note that I liked on III. Finish- A bit drier than III and perhaps a bit more woody. Not in a bad way but definately a different finish. Like wine-- some like a dry red, some like a fruitier white. This is all about preference and not anything against craftsmanship. Overall the finish is nice and full, with the same vibrance. Verdict- I am still a III devotee. Although I really dig IV and it is worth the ticketed price, III is more for me. Where IV is a triple in my book, III knocks it more out of the park. I think the blenders at MGP did it again! Another quality, well under $100 limited release. No idea why these sit on shelves.