"Remember way back, when we had M2M sales and a Classifieds section around here? Man, those were the days...."
Okay, just kidding.
I like the idea in theory, but can see how the thread/forum could easily get pretty muddled and hard to navigate in a hurry. I think maybe having just one-liners that link to important chip-related topics, headlines, or threads throughout the year may be a way to keep it manageable but yet still pertinent.
I'd run it for year, then bury it (on 21-March) for a couple of years. I like the idea of resurrecting the latest 2-year-old thread at the same time the current one goes away. Example: 2011 thread gets buried on 21-Mar-2012, and a new one starts (no old thread to resurrect). 2012 thread is buried on 21-Mar-2013, a new one starts, and still no old thead to resurrect. 2013 thread is buried on 21-Mar-2014, new one starts, and the 2011 thread (buried for two years since 21-Mar-2012) is brought back. And so on......until the end of days. Unless that happens to be 21-Dec-2012.
I don't think being gone for just a year is long enough, and five years seems too long. Two years is about right, as the content will be anywhere from 2-3 years old - plenty long enough to be forgotten (some of it), and short enough that many folks will still remember it from back then.