I came across the following information (in 'Fit and Well' for winter
2003) about the way red wine works to have a beneficial impact on
cardiovascular health.
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The major cause of heart disease is plaque in the arteries.  The
accumulation of plaque is stimulated by inflamation in the cells lining
the arteries.  As the damage from this inflamation increases, white blood
cells are attracted to the site of the damage.  Red wine inhibits the
attraction of white blood cells to the site of the inflammation.  The
ingredients in red wine that have the greatest inhibitory effect are the
polyphenols which are found in the skin and seeds of grapes.
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Four comments:

1.  I thought the white blood cells were the good guys and it
followed,
therefore, that we should not do anything to prevent them from getting to
the site of inflammation.

2.  I'd like to know (a) which polyphenols? (b) are effective polyphenols
also available food other than grapes?  (c) what amount of red wine has
the same impact as, say, 250g of fresh red grapes?

3.  I realize that this post is, as it stands, off topic.  However, there
has been some discussion in the past of the paleo nature of alcoholic
drinks.  For this reason, I thought it was useful to post this info, to
shift the focus to the polyphenols and away from the alcohol.

4.  Despite the above, my own suspicion is that the health benefits of
moderate red wine consumption lie directly in the alcohol, acting as a
stress reducing and relaxing agent on the brain.

Keith