Well, let's see. I have kept quite a bit of old PD ammo from many years ago that spent a year riding around in hot/cold patrol cars trunks. After that a lot of it was kept in my personal vehicle as backup ammo. Every now and then I'd shoot some to see if there was any problem with it. Not once could I tell any difference. I've heard the powder breaks down because of heat and/or vibration, and maybe it depends on the powder. I carried one 100-round container of backup 38 ammo in my car for 5 years, and it not only went bang, it was every bit as accurate as my new stuff. Bear in mind, this was when I was driving 30,000 miles a year, on some seriously neglected roads. The car was never garaged, so it got plenty hot in summer, and cold in winter.
At the PD we rotated our duty magazines every month, but used the same ammo for a full year, and sometimes longer. I never saw any indication it was any less potent after a year or better. In fact, I just shot up a few boxes of 38 ammo that was at least 15 years old, and had no problems, aside from some Nyclad ammo that seemed a little bit brittle. But it fired just fine.
As for testing ammo in wet newsprint, water jugs, or whatever......if that type of test is "useless", then so is ballistic gelatin. I use it to compare one bullet against another, apples to apples. Dry phone books are useless, but properly soaked newsprint makes an excellent test medium!
Papajohn