D. Sawyer wrote:I plan to buy 85 Graham's and Fonseca for the party btw.
Good choices! You're a lucky guy to have 1985 as your vintage. I'm stuck with a handful of Colheitas and 2nd label VPs, but that's still preferable to poor Andy who knows of only 2 Ports period from his birth year. 1985 has a lot of good Ports, with the Fonseca and Grahams being probably the two best.
D. Sawyer wrote:So here goes- I just bought a bottle of Fonseca Bin 27 which I'm sure isn't that great. I've only had a few VPs from the early 80s which I enjoyed. Tell me about this wine and more importantly what others I might seek please. This basically reminds me of a huge zin/spanish wine (not necessarily a bad thing). I don't remember the VPs tasting like this.
Fonseca Bin 27 is one of the best selling Ports in the world, but that's more due to price and positioning than raw quality. It's a good Ruby Reserve (one step up from the most basic Rubies) but not the best. Don't tell my Mom, though, because it's her favorite Port.
Generally speaking, Ruby Reserves lack complexity and depth when compared to Vintage Ports. To me they compare most closely with very young vintage Ports, but that's only a loose comparison based on their fruit-forward flavors. The strange thing about Ruby Reserves is that price-wise they're often not a lot cheaper than LBVs (Late Bottled Vintage Ports), and the LBVs are usually a fairly noticeable step up in quality.
If you like your Bin 27 and want to try another Ruby Reserve, I recommend that you try Graham's Six Grapes. It is unique among Ruby Reserves in that Graham's uses their second best grapes to make Six Grapes after using their best grapes to make Vintage Port. Most producers use their second best grapes to make their LBVs.
D. Sawyer wrote:Should this be chilled?
I wouldn't chill it. I generally drink all types of Rubies at right about room temperature or maybe very slightly below room temperature. 65-68 degrees F.
D. Sawyer wrote:Should I decant it? (Doing so now)
Also not necessary, but it certainly won't hurt it. Ruby Reserves are usually fine straight out of the bottle, but occasionally might need an hour or two in a decanter if they've managed to develop some bottle stink. They're not intended to be aged in bottle, but you never know how long one has been in a store so sometimes they get a little funky and need air to mellow out again.
Your Vintage Ports will need to be decanted. The Fonseca is a bit of a beast and should probably be given 8-10 hours in a decanter to fully open up... some may even recommend longer. The Graham only needs 5-6 hours as I recall.
D. Sawyer wrote:How long will this last now that I've opened it?
In a way, that's a matter of taste and how you store the bottle. Bin 27 is perfectly capable of lasting a month once opened if you store it in the fridge, but even just re-corked and sitting on the counter it will last for a week or two. Note that it will change a bit over time, but I think its overall quality level will remain fairly constant for at least a week (or a month in the fridge).
As Eric said, your Vintage Ports won't last that long. They've been aging in bottle and so will react much more quickly to oxygen. The Fonseca might last 3-5 days once opened because it is such a powerful Port, but the Graham should probably be consumed within 2-3 days once you open it. Store them in the fridge if you think you'll be pushing the limit and let your evening's pour warm back up to room temperature in the glass before you drink it.
D. Sawyer wrote:Are there more dry ports? (This is a little too sweet for my tastes)
Ruby Reserves to tend to be a little sweeter, at least to me, but generally speaking Port is a sweet drink. There are certainly dryer Ports, though. Dow as a brand strives to be on the dryer end of the spectrum, but that's the Port spectrum not the wine spectrum.

I also think that White Ports tend to be dryer than Rubies and Tawnies. (Not Lagrima, though, that's used to denote a sweeter style of White Port.) I also usually feel like Tawnies seem dryer than Rubies, though on the baume scale I don't believe that's actually true.
BTW,
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