bad wine?

[leosc]

I've just opened a Montepulciano D' Abruzzo 1997 and I find the taste unpleasant. It seems like the cork has gotten into the taste of it and its color is like reddish brown. Does this mean that the wine has already gone bad because I've kept them for a long time or is it how its suppose to taste?

I am also wondering how the old wines which are meant to be aged in the bottle would taste. Since I have not yet been able to try one of those I am right to assume that it will also have the taste of the cork in the bottle?