My point in starting this thread is, hopefully, to induce those who know far more than I to chime in, so please correct me if those impressions are mistaken.
With specific regard to Epson Premium Luster, this paper is a classic RC paper meaning the paper core has been coated both sides with resin coating (hence the name "RC" and the resin is mostly polyethylene) in order to make it highly water resistant. Because this base paper has been manufactured in very high quantities for the photofinishing market, and when coated with a microporous or swellable polymer ink receptor layer enables inkjet printers to mimic the traditional look of RC photos, it has found widespread use in inket paper technology as well. Its inherent vice with respect to paper longevity stems from the fact that the whitening agent in the polyethene layer is Titanium Dioxide which upon exposure to light generates free radical chemistry that attacks and embrittles the polyethelene layer as well as tarnishes silver particles in RC B&W silver gelatin prints . To combat the problem, manufactures now add antioxidants which scavenge the free-radicals. This light-induced yet temperature and humidity influenced failure mechanism is very difficult to replicate in accelerated aging tests, so most accelerated light fade tests rarely if ever trigger the problem and you often find 100 year plus lightfastness scores for pigmented inkjet prints on RC paper. However, a more conservative estimate of the benefits of the antioxidant additives (based on real world experience with early RC prints that had much weaker anti-oxidant protection and showed field failures in about ten years on display) puts the crack-free performance of the RC paper itself in the 70-100 year category, again dependent on real-world light, heat, and humidity cycling effects.
As for the term "archival", it has been so abused in the conservation literature as to be nearly meaningless as others have noted. Whenever I see this term applied to specific print processes or "archivally safe" storage materials, I mentally substitute the definition "made with the good intention to be long lasting and not to cause harm to other artwork stored in close proximity to it ". The operative word is "good intention". AFAIK, there is no specific definition of material "life expectancy" that qualifies a product as archival, although the ISO has proposed "LE ratings" of short, medium, and long life at 10, 100, and 500 years respectively, but I doubt anyone seriously uses those guidelines. Without product specific test information, one can only use common sense and general knowledge of historical print process for making educated guesses about the durability of the materials one chooses. Knowing certain facts about material composition helps, ie. does my print have acid-free and lignin free paper construction, what are the filler compounds, colorants, and coating layer polymers used, etc., etc.
Compounding the issue of adding perceived market value in the art world for modern photography is the fact that inkjet and "digital" prints started out with very poor lightfastness and quickly got a reputation as a "cheap and unstable" print media which still hasn't completely disappeared. Like the phrase "made in Japan" which had a poor connotation 50 years ago but now can be stated with pride, the term " inkjet print", especially "pigmented inkjet print", I believe, will become much more accepted in the art world as time goes by. What I see most often in museums and galleries today is the term "archival pigment print" or "Giclee" print (not so much with photographs as with art reproductions). Whatever you choose to call your prints, my advice for photographers and printmakers is to provide the buyer with exact process description, for example, "Epson 7900 pigmented inkjet print on Hahnenmuhle Fine Art Pearl paper using Epson HDR ink and Hahnemuhle Protective Spray overcoat". Describing your process means you made informed choices in producing your print, and should your prints take on historic value in the future, will provide museum specialists with a much better handle on how they should take care of the work.
Ed, I'm glad to see you started this thread, and your encouragement for "experts" (a highly overated term) to join in. I have a few more points I'd like to share, but this message is getting long, so perhaps later.
Best regards,
Mark
http://www.aardenburg-imaging.com