If the paper was kept in a cool place, you may be in luck. It'll probably have a bit of "cosmic fog", but even that can be dealt with. As for the chemicals... I bought a bunch of Perceptol that had been sitting on a store shelf since the 1970's, you know, those nice little cardboard cans with the pop tops. I paid a whole dollar for a half dozen cans, so I figured I had nothing to lose. I mixed up a quart and processed a test roll of Pan F+ - perfect!