Well theoretically a simple bolt action rifle would last forever. That is if; it never rusted and/or never fell victim to other sorts of decay (wood rot for example). Althought rust would be the biggest threat as I have old rifles with wooden stocks that would still work, tho not conveniently, even without a stock. Therefore, if you stored that weapon in the perfect 'cool dry place' it would be useful forever.
I don't know for sure but I would assume that ammunition stored in a similar fashion would also have an eternal shelf life. Unless of course gun powder goes stale, and I don't think it does.
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The Truth:
Johnny Cash could have kicked Bruce Lee's ass if he wanted to.
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