If a print is hinged properly, it does not sag. The procedure is to place the hinges about 1/4 of the way in from the corners of the print. This allows the paper to expand and contract with minimal "warping" or bowing out . Anytime a hinge is put at the corners, it forces all of the paper to expand in towards the center which accentuates the results and the paper will tend to sag as it isn't properly balanced.
To clarify a bit... a long print would likely need to have another hinge in the center as well.
For the majority of prints 2 are enough. Never tape along the whole top of the paper!! That will cause all sorts of ripples and make a pretty mess of things.
I also use corner pockets to hold stuff as well. If you hinge the art, then the pockets at the bottom will help support it and also as sort of a backup in case the hinge fails.
As for this: "I have been amused that "archival" does not seem to view sagging induced warping as objectionable. I think it messes up prints more than it preserves them."
The term archival has to do with the integrity of the piece, not how it looks. Plus the warping can be reversed and made flat so that would still make it archival. The idea of archival is to not do anything that would alter the physical or "chemical" makeup of the piece. Dry mounting does that but warping does not.
I think archival is important when you are looking at a piece that has a high value on the secondary market. If a piece is worth $10,000, then, yes I would use archival methods to mount it. If a piece is worth $50 and the customer wants me to mount it archivally, then by all means. Whatever the customer wants to pay for.
That said, I agree with you that a wavy print bothers me as well which is why all of my photos are dry mounted and as you say, look alot better for it. Personally, i'm a little suspicious of someone touting about the archivalness of their work. If your work sells for $1,000, you might think you are at the level where archival is important to the customer... but you really aren't.
Just a few thoughts from the field.