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My Yellowtail Shiraz is going bad -- It's only a 2004

Posted by Cut-Throat on December 17, 2008 at 15:03:52:
This is my storage system in my basement.
My everyday Red Wine is Yellowtail - Cabs, Merlot, Shiraz etc. etc. - At $5 a bottle, I haven't found anything I like better.
I buy it quantity and store it in my basement. A friend of mine built me a Wine Rack that is in a room in my basement with no windows. It is dark almost all the time. And since it is my basement the temperatures range from 62 degrees in the winter to 70 degrees in the summer.
I opened a few bottles of some 2004 Yellowtail Shiraz and it had some tints of brown in the red color and had a bit of the "Port" taste to it. I could tell it was starting to go bad. It was still drinkable, but not as good as it should be.
Is this normal for this wine to be going bad this soon? It was not just one bottle, as I opened 5 of them to make sure and they were all identical. When I first got the wine it was fine. I had thought that this wine should be good for at least 10 years, but what do I know?
Please no jokes about Yellowtail being so cheap that it is supposed to be bad. I like expensive wine too, but can't afford it on a regular basis.

Cut-Throat