Smokey nose with caramel, cloves, light cotton candy, and hints of shoe polish. Maybe pencil shavings. Opens up into richer barbeque/hickory scents, with earthier smoke.
The palate, well, it's definitely nice stuff. Really drinkable and much lighter in flavor than I might wish for, but still very easy to like. Oaky cloves balanced well with the smoke, mildly sweet. Peppery finish. Even shades of Ardbeg Provenance. But...
Despite the 1974 vintage and Sig dumpy of it all, it's not as stellar as I'd wish for from the pedigree. Great, yes. Absolutely excellent, no. Though it is the way I like my peaty whiskies nowadays -- not a kick in the crotch, but still delicious.
To note, I tried this on three occasions, both in a social atmosphere and in a nerdy controlled tasting, before posting "only" a B+ rating. How do ya like that price tag, by the way?! No, I did not buy this bottle for that price... but many thanks to the very generous S'tan who did!