i have a long building experience with plastic film covering and gone through most of them
and to reply the first question: yes it have a shelf life and the stretching / glue capability decreases along the time and start to britlle to a useless stage.
at first i was "monocote sucks", i´m a dope/silk guy, but then i was pro building R/C models and a friend came with a monokote roll and told me:either use this or return the the kit to me. I had a try and was instantly sold out to the stuff
that said, i have used almost all of the available brands and Hobbyking is the worst (lift eges, ugly colors and the paint tends to fade or dettach from the polyester with age). Monokote is more sensitive to shelf life and tends to sag and not returning back after some years. Ultracote is my choice product, easier to work, sags under the sun but you can taut it back almost forever.
all 3 models bellow have the wing base color done with Uktracote, and painted trims.
monokote sucks? maybe, but looks far better and lighter than doped jobs, at least to my eyes.
and yes, i LOVE dope smell and sylkspan,polyspan wich i use on some models too.