According to the epicentre's encyclopedia of spices "The nutmeg tree is a large evergreen native to the Moluccas (the Spice Islands) and is now cultivated in the West Indies. It produces two spices ? mace and nutmeg. Nutmeg is the seed kernel inside the fruit and mace is the lacy covering (aril) on the kernel.
"Bouquet: sweet, aromatic and nutty Flavour: Nutty, warm and slightly sweet"
Ground nutmeg soon loses its flavour but whole nutmeg keeps well. So grate freshly using the finest section of your grater.