I think the main characteristic that I attribute to mouthfeel is density/viscosity. I do agree that this could also be affected by the oiliness of the bourbon. Thanks for that old thread T Comp. Interestingly, that oiliness would be caused by congeners whose boiling point would likely be lower than alcohol/water, like small molecule esters. The density of those compounds on average would be lower than water, so you could get an oilier outhfeel AND a less dense/viscous bourbon at the same time. Note that it can't really be "oils" causing oiliness, because the boiling point of any long-chain oils would be much higher than water or ethanol. For anyone who is interested, here's a link that shows some of the small molecule compounds that give (Scotch) whisky its flavor:
http://www.rsc.org/images/Whisky_tcm18-138981.pdf. Are there any places that one can find the major small molecule components that give flavor to Bourbon? That would be interesting.....
In the old days, as bourbons had lower distillation and entry proof, they would have more of these small molecule organic congeners and would be oilier. As Bourbon Boiler points out, those variable could be very important - but are not something you can read on the side of a bottle! I guess in the end this is a more complex issue than I thought. Even if we can't understand the science behind it, I'd be curious to see what specific bourbons you all judge to have impressive mouthfeel (even if they are outside the $15-$30 range).
To refresh my memory, I had a couple of fingers of WT101 last night, and it did have quite a nice mouthfeel. It is shocking to me how much I enjoy that bourbon in so many ways - for $22 here in NC!