This whisky was created largely to capitalize on the popularity of the Prohibition era in the current cocktail world. It has all the hallmarks of the current moment: a round and bartender-friendly 50% ABV, a respectable price point, and a grossly exaggerated story.
So what's actually in here? While no specs have been released, as a blended whisky it's a mix of malt (with what seems like a higher proportion than many) and grain whisky that were in all likelihood mostly ex-bourbon, with possible a few sherry casks in the mix. Given that this is produced by Edrington, the most probable malts come from Glenrothes, Glenturret, Macallan, and Highland Park (probably the source of the peat in the mix). There are good odds that it has been colored with caramel and it may still be chill filtered despite the higher strength.
Cutty Sark Prohibition
Nose: balanced malt and grain, toffee, mild dry peat, floral vanilla, jammy berries, a little chocolate. After adding a few drops of water more peat comes out but it's also softer and ashier,
Taste: slightly bitter oak tannins throughout, citrus peel and citric sourness with dirty/earthy peat beginning around the middle, bitter grain with mild oak near the back. After dilution it becomes much sweeter and the oak tannins are subdued up front, the peat largely disappears into the oak near the back, and the citrus notes are mostly lost.
Finish: slightly sweet grain, vanilla, bitter oak, berry and peat residue
While this is far from being the best whisky I've ever tasted, it is undeniably a good value. There are not a lot of blended whiskies under $30 in the States right now that I would consider to really be drinkable, but this one is really quite good. The malt content makes itself known and the grain is not overly obtrusive. It has more peat than, say, Chivas Regal, so I think it would hold its own for a Johnnie Walker Black fan. Isle of Skye 8 Year remains my standard in that category, but this is a solid pick if you can't find that in your area. All in all a good effort by Edrington that I'm glad to see on the shelves. Hopefully more companies follow suit in releasing blends at reasonable price points that have more heft than the standard 40% ABV releases.