While surfing the internet on my research on wine, I come across this interesting article on how wines need to breath.
According to the article, the best place that the wine can breathe is in the glass.
Old wines may need to be decantered (a large glass bottle that you pour the wine into). The object of a decanter may not be to let it breathe, as some wines may breathe pretty quickly and die as you sit and wait. The object of a decanter can be just to remove the wine from any sediment (solids that form in the bottle over time) from the juice.
On the other hand, young wines can improve in a decanter as they open quickly and some of the harsh green flavors can soften.
This is interesting stuff, isn't it.