sage...
almost all of my film is expired to some degree. i shot a roll of tmax 100 (120 format) last week that expired in 2001. it was stored in some guys basement in washington state for 4 years. it worked fine (some defect on 2mm in from the edge, but did not effect the picture). also, i shot some kodak e100 colour slide film from 2002 that was perfect.. I have a roll of tri-x that expired in 1989 that i'll be experimenting with next. you'll have no problem with film that's been expired for at least 3 years if it's been refridgerated. obviously don't take a chance if you're taking pictures of a "once in a lifetime" opportunity or a paid project. use the aged film for working on your skills, experimenting techniques, filters, etc., or use it for things you can go back and retake later if you're not pleased with the quality. on that topic however, the quality does not seem to degrade with expired film from what i have found. there seems to be a slightly different "look" between 2001 and fresh film, but it could have just been countless other variables.
hope this helps...jordan.