I read a good while back that in slow-cooked dishes (boeuf bourgignon etc) about 30% of the alcohol remains after two hours' cooking. I have a very low alcohol tolerance, and the last time BB was served at a cycling club dinner I had a splitting headache within 15 minutes of eating it. I didn't much like the flavour, either.
OTOH if I cook steak or game in a frying-pan then when I turn out the meat, a thick splash of Madeira unsticks the residue very efficiently, and the alcohol is gone in seconds. Balsamic vinegar does work pretty well here, and goes very nicely with shallots. White wine is OK too if you want to avoid the negligible sugar content, but won't caramelize as well. I haven't thought the physical chem. through, but I feel that the alcohol in the Madeira evaporates faster than that in white wine. The Madeira tastes better, too.