The colour of the 03/04 is one shade paler at deep copper than the 16/06 at burnished. The noses offer basically the same profile but 03/04 is significantly less impressive and complex than 16/06. The sherry notes are rather shy and hide in the background and the HP malt aromas center around heather honey and autumn floral notes missing the herbal notes completely (there is bitter tea instead, and more tannins). There are much less fruits in the 03/04 too, unfortunately. This is a two points difference in favour of 16/06,
The taste of the 03/04 is less sweet (again fewer fruits) and less winey than 16/06 and it turns quite bitter after some chewing (the wood grows stronger). Oops, this is not as balanced and significantly less tasty than 16/06 - what a difference! This is astonishing four points weaker than 16/06.
The initial mouthfeel of the 03/04 warming but less coating than 16/06 with a bitter-drying moment (tannins at work). The finish is just of medium length (16/06 was long) and adds some spices and even more bitter flavours (like tea that steeped too long). There is an umpleasant drying cardboardy feeling towards the end of the finish too, obviously they added some casks with rather old woods to this batch. This is even a five points difference to the fine 16/06 finish.