I don't know what people do with the dregs of decanted Vintage Port, that last 1/2 inch or so of sediment-filled wine. I filter out the large chunks with a fine mesh filter, leaving me with about a glass of dusty wine. Drinks just fine, although I can see how some people might be a bit leery about drinking something with particles floating in it.
In any case, better than pouring it out. Or doing something stupid like spreading it on toast.