In regards to "As long as you can run the code, archiving this project means nothing, really." I think this section misses the main concern of archived software - what happens when one of those bugs is run into (either something not yet noticed or something due to external changes down the road) and there is no actively maintained version (which could include one you're willing to hack st yourself) to just update to?

The simpler the software the less urgent the concern but "I haven't had a problem in the last 2 years" is something I could say of most software which I end up needing to update, and it makes sense to make myself able to do so at a convenient time rather than the moment the problem occurs.

This project seems popular enough I'm sure eaiting a bit and seeing who the successor project is would be a safe bet as well though.