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Crawdad, I would say that it does. To what extent, I don't know. I will tell you this. I refuse to use Jack Daniels pellets or soaked chips, etc. I love the whiskey, I dang sure don't care for the taste or smell it imparts to the meat I'm cooking. I've not tried wine, so I can't speak to that.
Anything you add is gonna do SOMETHING. Will ya like it? Gotta try it. I have had some positive results adding fresh cracked black pepper into the fire :{)