Not since the millennium folly in 1999 have I seen so much frenzy in the wine market.

Back then, with stock markets booming, auction houses setting records for wines and Champagne producers warning there wouldn't be enough fizz for the celebration, producers were enthusiastic and bottles were getting pricier by the month.

What a difference a decade makes. With high unemployment, pared-down expense accounts and a glut of wine, it's the consumer's turn to make merry, with lower prices, more choice and less pretension. Those 99-point ratings don't seem quite so requisite any more to buying good wine. Read more...