Is vintage really important in this day and age? When winemakers can use technology to create good, yes, as good products in undistinguished years, does vintage matter? No, it really doesn't. What makes a good vintage is the temperature and rainfall. Technology and skilled winemakers can keep grapes the right dryness and ideal temperature. Grapes subjected to this treatment adopt the same level of quality of the best year vintages. Some would argue that vintage wines are superior in quality, but the only benefit to old vintages as opposed to modern methods is sentimentality.
Although winemakers cannot control the weather in their vineyards, they can now predict, better than ever, reliable weather patterns. With weather forecasting technology, grape growers can more accurately determine the best time to harvest the crop. Grapes are grown all over the world including Africa, Australia and the United States. Planters have more choice over climate for the needs of a particular grape. Certain grapes grow better and produce a more quality wine in warmer climates. There are more options, without the threat of late cold weather in places such as California. Therefore a warm weather vintage year would be no different than a typical California year. Also, viticulture has become even more advanced in regards to soil type. Some grapes grow best only in specific soil concentrations. With new technology and fertilizers, lacking minerals can be infused into the soil in order to create a specific grape's ideal soil balance and ph.
Why should you pay more money, sometimes ridiculous amounts more for a particular vintage wine, when you could save the money and purchase a new wine from a quality make? It only makes sense. You save your money, but will receive an equally excellent product. Why would a person drive an old car when the new ones handle just as well? It's simply nostalgia. You need not buy a classic if you are looking for the best quality. As far as cost vs. product, you generally lose out when you fork over the money on a vintage wine. They're overpriced, and not worth the outrageous sales price for the taste.
Older vintages do impress guests, so if you are looking to make a ?wow? impression on a fellow wine taster, you might invest in a vintage bottle of something. If taste is your primary concern, however, as it is with most people, a well made new wine will taste no worse than a vintage wine. Old habits die hard, and people's fixation with vintages is one of them. Some people find romance or some other sentiment in popping the cork of a particular year wine. Realistically, the taste quality is probably no better than a nice wine made more recently.