Wine, when left exposed to air and light will eventually turn to vinegar. The ethanol (alchohol) oxidizes and becomes acetic acid. Sherry vinegar is vinegar made from Sherry wine. This oxidation...
Yes, if an acidic factor is all you are interested in. Sherry vinegar would be the next closest substitute but the taste of dry or sweet sherry for a sauce or marinade is fairly distinctive and to a...