I have some white gas I stored for 8 or 9 years and when I opened the can, it worked fine. It usually takes me about two years to go through a gallon. Again, after opening it, I don't experience any obvious problems even after a couple of years.

So, although there may be some breakdown of the distillates over time, it doesn't seem to be enough of a problem to make the gas not viable. YMMV.