LG, the one (Garden Treasure) with the bark looked fabulous...pretty sure they had been in the pot around 1 year or less. The ones in the potting soil did not look as good and I cut off rotten bits, that was Bartzella, that the voles got into. We will see how it does.
I also just dumped out Monrovia #1 mystery Itoh 5 gallon and it must have been in there several years as the bark had turned to mucky mud in lots of places. The leaves looked pretty good, but I was keeping it out of the rain and it was still pretty wet with a good bit of rotting in spots on top and bottom.
I think only bark may have a 2-3 year life, but I can't be sure. I don't know how that effects Tree Peonies...I'm still thinking since I just dumped the #1Monrovia mystery today.