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I actually marked the date on a 1911 magazine and shot it 20 years later. No problems.
However the best story I heard of was from a friend who had a client who brought him a 1911 found in his fathers foot locker. It was loaded and had been in the locker since he came home from World War I (yep not II). The gun was rusty, having been neglected, but it went off and functinoed every time. The ammo was headstamped FA-18 (Frankfort Arsenal 1918) I think.
Does ammo go bad. It depends on the conditions in which it is stored. I change out our deputies' ammo every six months, but shelf life in climate controlled storage could be forever...well OK, slightly less than forever but a long time.
Riposte
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The will to win is nothing, without the will to prepare.
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