It holds a large pizza quite nicely up against the bottom of the saddle on our shop 3 speed, but I think that has to do more with the particular positioning of the saddle than the rack itself. A pair of folding Wald baskets on either side does wonders for versatility, just make sure not to flex the outer portion out enough to lose the bottom on a big bump. I call it the "rattlebike" behind its back.

I'll definitely give the wine bottle a try.