I've had bottles of both, and they were both quite good. The Balvenie has the classic Balvenie flavor, with some enhancement from the second racking. I would disagree that Dalwhinnie lacks complexity, I like it far more than Macallan 12, but the overall taste is light, subtle smoke, etc. It would benefit from a higher alcohol content as well IMHO.
Both are good, but I don't plan to buy another bottle of either.
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