N: Burnt orange, caramel and some vanilla dominate, but with water (required for drinking) it becomes very Christmas-cakey
P: At 29 years old still quite spirity neat, but lots of toffee, oak and orange like the nose. Add water. Then it becomes very smooth, sweet, more grapey than grainy. Then there's another wave of caramelised oranges and a raisiny flavour (like a sherried malt).
F: Medium length and still with the sherry and oranges. Oaky spices too.
This is a very nice grain indeed. At 29 years it has retained a high ABV and is still powerful though smooth.