I picked up a bottle of absinthe herbal concentrate liquid from eBay. It comes in a 3/4 oz vial and it looks like a bottle of green food coloring. Prepared to recipe, it claims to yield 73mg/liter Thujone absinthe.
The concentrate was mixed with Everclear brand 95% neutral grain spirit and diluted with distilled water to yield a final strength of 126 proof.
The finished product is deep green comparable to the tint you see in a bottle of Midori melon liqueur.
The liquid turns milky light green with an additional of 3-4 parts water as it goes through "louche".
The resulting product has a very strong anise aroma. Made without added sugar, the anise flavor is very clear but that's about it. It tastes like licorice liqueur. It doesn't have the vile taste I was expecting that makes it necessary to add sugar.
I thought it was because of the cheap eBay mix, so just to compare, I tried this commercial absinthe at a bar which goes for around $60/bottle
Integrity Spirits: Trillium Absinthe Superieure | Portland, Oregon
More or less the same.
I think they just charge an absurd amount of money, because it's the new hip and they can get away with it.
Oh, and don't serve absinthe in plastic wares unless they're disposable. The smell won't come out even after a wash.