re: Is this bottle of wine still any good?

Yes, I wouldn't serve it at cellar temperature, I think that's too cold. Open it, pour some into a glass, and let it sit for an hour. Alternatively, open, pour, taste, and continue tasting it periodically for the next three hours or so. Seeing how a wine like this changes over several hours can be an eye opening experience. This all assumes, again, that the wine hasn't been cooked at some point.

I actually just edited my previous post (before seeing this one). To answer your question: yes, it will, being you are decanting so long. But, frankly, I think I've conveyed this information as though it is more concrete than it actually is. If you are enjoying this bottle yourself, it's a good opportunity to experiment. Chill it in the fridge for an hour or so. Pour it into a decanter (if you have one) minding the sediment. If you don't, pour one glass (to give the bottle some room to breathe) and taste it. Now you know what it tastes like overchilled and just out of the bottle. If you liked it, drink the glass. If not, let the glass sit for a little while (or hold it, warming it with your hand).

Continue like that, and by the time you reach the bottom of the bottle (hopefully with a friend ), you'll have a fair idea of how the characteristics of a wine change as it warms/breathes.

Like with whiskey, wine is enjoyed far more when it is considered a journey as opposed to a destination

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Remind me to never comment on a wine thread again

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Non-US wine labels can be tricky.

If the cork broke that easily, there is a risk that you've had some air leaking in already. You've now seen first-hand why you should either store a bottle on its side or in a climate/humidity controlled cooler.

Over-oxidize. If you're really curious, save a couple of ounces and leave it sitting out for a couple of days, then drink it. You'll find that where you previously had wine, you now have something vaguely resembling wine vinegar

Why does the inside of the bottle look like this?

Mostly on its side. A few years up right in the cabinet though.

No clue, then. It's alcohol. Whatever it is is unlikely to hurt you

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Now with about 2 1/2 hours of breathing it has become one of the best wines I've ever tasted. Not that that says a lot but it is really good.

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I think I recall someone telling you that three hours was a good rule of thumb

Awesome that you got to experience it for yourself, though