Nose: Caramel, butter, vanilla, honey, sweet apple, peach, touch of sweet orange, lemon. Nose is sweet and malty, buttery, rich. Luscious but simple.
Palate: Honey, grain spirit spike, butter, vanilla and toffee. Butterscotch. Sweet and simple. Nothing to dislike except a bit too much spike.
Finish: Peppery honey, vanilla, grain spirits.
With Water: Spirits milder in the nose, more honey and vanilla. Soft flavor, slightly more woody / oaky. Works fine.
Overall: Very sweet and caramel, vanilla. Not at all complex. Tastes nice, but the spirit spike is a bit too much. For this price, no complaints, but I prefer Teachers and probably Cutty Sark as well. After a couple shots, this gets boring.