I have a bottle of 2001 Cabernet Sauvignon California wine from the Graceland Cellars. Is the wine still good to drink?

YES!
Reds get better with age, while whites do not age well.

It should be great as long as it was not stored in heat.

Yes... California cabs are often drinkable within a few short years... your wine probably isn't overaged one bit. The cab is renowned for its ability to age well... stored properly? That's for you to know and find out.

Open it and enjoy your king cab.

Salute!