Hmm, I wonder if the shape of the field has anything to do with it. A coil won't produce the same field as two plate electrodes. But, you'd get a nicely shaped magnetic field, and who knows what that would do... And their field sounded like an AC field. What happens with a DC field?
I am skeptical. I'm wondering if these effects are permanent or short-lived. If I zap my wine today, will it still taste like crap if I wait until tomorrow to drink it? Am I really changing the wine chemistry or just sticking "unwanted" chemicals to the sides of the pipe it's in?
Biggest question: what do "well-aged" Chinese wines taste like? I haven't had Chinese wine but I'm guessing that's because there isn't a big international demand for it. Not that that means Chinese wine is automatically swill, but who knows, it could be.