Absinthe is not a psychedelic, period. It's a very, very nice alcoholic beverage for sure and I believe it has a nicer effect than other liquors, but it's not "a drug of it's own". It's only liquor with a little "twist".
To make good absinthe that's worthy of the name you need a still and a lot of knowledge and skills. Soaking wormwood in vodka just makes a disgusting brew, not absinthe.
If you want to try really good, distilled absinthe you can order good stuff online, try Francois Guy, Kubler or - if you can afford it - a variety of Jade Liquors Absinthe. This is the real stuff, just like 1900 (and just like 1900 you won't become mad from it).
If you don't have the money for that then try the Spanish Absinthe like Deva, Herring or Serpis - the nice effect will also be there even if these Absinthes aren't distilled but mixed from oils.
Keep away from the Czech Absinthes, they are expensive crap (I tried a few and asked myself how anyone could be bold enough to sell something like that!)