I have reported previously on three vintages of this wine--1999, 2000 and 2002--all purchased at Trader Joe's for $6.99. The current vintage on the shelves, 2006, spells Nerelo with one "l" rather than two and eliminated Marquesi di Montecristo as the producer, but it's the same wine at the same price. And it's very good.
2006 Nerelo del Bastardo is a medium deep ruby color with lovely scents and flavors of dark cherries, mint, berries and sweet new oak (more new oak than I remember from previous vintages). On the first night, I thought this wine might be a super Tuscan (Cabernet and Sangiovese) rather than a declassified Barolo, as the label suggests. But I believe that was because of the new oak, which I tend to associate with Cabernet-based wines. On the second night, the flamboyant Nebbiolo qualities emerged, even with some hints of licorice and roses. And there are lively fruit-forward qualities similar to those of a good Barbera. This is a big, full-bodied wine, but the tannins are ripe and smooth. It's delightful to drink now, particularly with beef or tomato-based pasta. But like its predecessors, it should age well if you're so inclined. The 1999 was going strong when I tasted it a few months ago.