Ok, now for something that isn't negative...
I have 6 oak barrels and love what they do for my wine, the smaller the barrel, the less time you will need in it the first time around, there is more surface contact with smaller barrels, however, take a taste every two days and when you reach the desired oak level, let it go another day and rack out of the barrel, the oak will dissipate over time.
American oak will impart more vanilla flavors, I use Hungarian oak, and I'll be switching to Romanian oak, this is the same oak used to make french barrels.
I oak all of my reds, the length of time depends on the varietal.
The key is to keep the barrel filled, so now you have the opportunity to plan your batches of wine. You can keep them filled with water and meta, it isn't recommended, you waste a lot of oak in my opinion.
Aging in oak not only adds a level of complexity, but it can also help to correct some faults, the wine that I made from Chilean grapes had a strong vegetal (green pepper) taste, after putting it through my barrels, the pepper taste was gone and the fruit came forward, not to mention the benefits of the micro-oxidation.
Once you taste what the barrel can do for your wine, I have a feeling that you'll be in the market for a larger barrel as well!