CNET: A world without records...
This article raises an interesting point that should be considered when considering a data retention plan. Why keep the data in the first place? I can understand regulatory efforts, certainly. Keep what you need to keep, but if you don't fall under these requirements, don't keep what you don't need to keep.
I worked with a company a while back that had a policy of deleting off emails that were older than 90 days...no PST files...no excuses. Seems an elegantly simple solution and one that isn't asked often enough.
Maybe we're just "collectors" by nature, and we need to learn to be able to "uncollect", for our own good.