Smokiness \Smok"i*ness\, n. The quality or state of being smoky.
Only bourbon barrels are used to make it an uncompromising version of the 'bourbon' style of malt whisky: intensely buttery and with an attractive smokiness - but with all that Balvenie sweetness on the palate.
These are perfect illustrations of the two schools. The '69 is all sherry-wood and smells like rich fruitcake with a hint of smokiness.