I'm not the only one, I think, who has the idea that Cragganmore isn't what it was ten years ago.
My - admittedly not very systematic - impression was that the spirit had become lighter and less intense. Obviously, this called for a taste test, so I rummaged about the interwebs and came up with a Gordon & MacPhail 1969 Cragganmore from the old brown label Connoiseurs Choice series. Conveniently this was bottled at the same 40% as the Official 12 Year Old I compared it with (which was bottled around 2010).
Neither of these is an outstanding dram, although they are both good single malts. The two were pretty similar, unsurprisingly, but I did find that the older bottling had a little more complexity. It seemed to have rather more woody notes, in an elegant sort of a way, and I was pretty sure that there was a touch of smoke about it (although this could be a barrel effect I suppose). On the whole, there wasn't a great deal between them.
In conclusion, I have to say case not proven. And I hereby resolve to drink whisky with a little less cynicism in future.