I would say: very good and very tasty!
In contrast to the Illicit, less alcoholic hot. The 48% pushed me too hard on some days. Both in the nose and in the taste. I think this one got more Virgin Oak for that. Means: I couldn't keep it in my mouth for so long, otherwise the oak would bunch up completely.
Tasting yesterday went something like this: "Oh, it smells good. Nice color! Whether it was re-colored? Well, try a sip .... Nice mouthfeel, nice oily .... Oh wow, what an oak load, better swallow it quickly. ... Ahh very tasty! I'll take another sip =) "

Two WSD are already out of the sample and as soon as it is reasonably available on the German mark, I would strike.

On the first opening it totally smelled like Bourbon whisky. Only after a few minutes, and now on the second opening the dram 'transformed' into Scotch on the nose. Funny!
Other than that this one seems more mature than the Illicit Still in regards to added wood aromas. Think I read sth about virgin oak being involved at some point in the maturation process this time around. That would fit the impression. This one also seems a bit less biting on inital opening, the alcohol is integrated fairly well. On the other hand I really like the predecessor for its more pronounced bright, yet cooked, fruitiness in the foreground while there's enough cask influence to bolster up the finish, especially compared to Livet's normal 12 yo.
Since the Illicit Still imho needed weeks if not months of contact with air to fully round out and blossom, the rating for the Licensed it meant to be a bit 'reserved for now' with 86 p. At this point I can acknowledge the differences and a supposed progression (despite the same age) from the Illicit Still, but I do not find this one better per se, just a tad different. All in all both are very good advanced beginners' malts @ sub 40 EUR and much preferrable over the usual - now different kinds of - 12 yo Livets @40/43% abv. in terms of richness, oily mouthfeel and prolonged finish. Highly recommended though beginners might find these a bit too demanding at first. :-)

Nose: tangy, floral, citrus notes (mandarin), marzipan, green apples, a little nutty, some honey, perfume, a clove

Palate: round and oily, baked apples filled with marzipan and a pinch of cinnamon, nutty, some honey, tart notes

Finish: medium-long and warm, marzipan, tart notes, slightly cinnamon

Rating: I think it's really chic: tangy citrus notes, baked apples with marzipan and cinnamon, nice nutty and pleasantly tart notes - a clear recommendation and, for my taste, much better than the illicit still from the series, which I "only" liked. You should definitely keep an eye on the series, maybe Glenlivet can do some good self-bottling after all?

89/100 or 7/10