I think a good shelf life is not necessarily a matter of concentration, but a matter of using the right solvent. Mix it with an organic solvent, like propylene glycol or TEA, and it will last almost forever. The developing agent(s) cannot oxidize if there's no water.
I'm not sure whether metol is soluble in glycol. I seem to remember reading somewhere that it isn't. If I remember correctly (which I cannot guarantee), the sulfate isn't, but the free base is, so you have to convert it to the free base prior to dissolving it. Search for Patrick Gainer's articles and/or forum posts; there was something on this subject there.