You may want to check out this article/product: Archiving for CA Clarity PPM
Archiving and deletion is a necessary reality. There are rules, even laws regarding what must be kept and what must be thrown away. Also, companies split, mistakes are made - keeping everything forever ignores reality.
CA once recognized this need. At CA World 2007, archiving and deletion was addressed during an NPD session, where our feedback and requirements were solicited.
We haven't obtained the Premari solution, yet, but have a need for it, due to our recent acquisition and related spin-offs. Would appreciate hearing from any users of this tool. Now that our acquisition process is complete, I'm expecting that we will soon restart our search for a solution and evaluate this Premari tool.