I think wine is wine; always has been. If it didn't ferment and produce alcohol, then why is it written in Mark 2:22 "And no man puts new wine into old wineskins: else the new wine does burst the wineskins, and the wine is spilled, and the wineskins will be ruined: but new wine must be put into new wineskins?" It's the buildup of carbon dioxide leftove from the fermentation process that would burst the wine bottles. Having made my own wine and brewed my own beer, I'v seen this before. It has been said that the alcohol content was lower then and that may well be depending on the process they used.
In those days the milk wasn't pasteurized and the water wasn't always fresh. Wine would store a long time and remain bacteria free. The Bible says to be not drunk with wine, but it doesn't condemn all consumption. Wine has many health benefits; some of which we are just now discovering. 1 Timothy 5:23, "Drink no longer water only, but use a little wine for your stomach's sake and your frequent illnesses." There is no preclusion to the consumption of wine, only to drunkenness.
What does all of this mean for the modern Christian? If you don't wish to consume alcohol then don't, because the fluids we have to choose from now are cleaner and healthier than 2,000 years ago. If you do wish to consume alcohol in moderation, then there is nothing wrong with it. However, it IS a sin to get drunk and defile the temple of God; which is what your body is considered. If you can't stop at one small glass "for your stomach's sake" then don't touch it at all. There's nothing wrong with either position.