I get a dull and muddled malt flavor. Crystal malts get a toffee flavor. Hops can get dull in the flavor, and the catty ribes go up. Honey in a light colored lager's aroma is oxidation - I don't buy many German lagers due to this almost always being in the aroma here. Big beers can take on dark fruit notes. Dark malts oxidize to the leather and sherry notes IIRC. Cardboard is one of the end products of oxidation, there are many tell tale signs along the way.