The (new?) Van Winkle 13 year old Rye Whiskey and about 15% red vermouth, poured on heavy rocks (not shaved ice), and two maraschino cherries. I doubt any other recipe could improve on this one but would be interested to hear theories/experiences.
Speaking of theories, the compound above made me think that winy vermouth was added to rye (and later bourbon) not to offer a new cocktail flavour as such but to duplicate the taste of aged bourbon or rye. A well-aged, well-made straight whiskey should taste concentrated, rich, sweetish, and fruity. This is how a Manhattan, even made with inferior liquor, tastes.
In other words I think the intention originally was to improve unaged or cheap bourbon or rye, to make them taste like much better whiskey in a word.
Thus, adding VW 13 year old to red vermouth might amount to gilding the lily but the result was extremely good.