Purchased in 2010 and stored unused since then. It was stored in a metal sealed can, shielded from air and light. While there is almost no noticeable odor, there is a slight, grassy, green scent. According to research, this seems to indicate freshness. The third photo shows a test application on a 2x4. The surface was nicely smoothed and the finish was good. The oiliness after application is barely noticeable after a few days, and only transfers if pressed firmly with oil-absorbing paper. Although I don't see any major deterioration, I am not an expert. Please consider this when purchasing. The price has been set accordingly.