Home Distiller

I have read posts about making oak "juice" and using oak chips for
flavoring. My question is this:

Has anyone made sherry or port oak chips? I would imagine you just
soak them, but for how long? Any ideas? Which would be better,
toasted or untoasted? Just looking to experiment with different
flavors for my rum.

Rum...yum!

Chips would have to be toasted first then soaked over night . but what
would be different than putting a few drops of wine in rum then aging?