Just to add something a bit more with a technical slant to this discussion, I went and checked a text book which I have covering brewing yeast. Boulton & Quain in Brewing Yeast & Fermentation state quite specifically with dried yeast that:
"Dried yeast is resistant to storage over periods of several months provided it is kept at cool temperatures and is vacuum packed." [p486]
Unfortunately, they didn't elaborate or reference this singularly simple but, in reality, powerful statement. Nor do they reference which of the two key conditions are more important or have a viability over time/temperature chart which is what I was hoping to find. However, it's those last two words which caught my attention: "vacuum packed". That was something which I had never considered before so I got a bit curious and had a think about the packaged kit yeasts.
To me, the Cooper's yeast in all their kits that I've seen are not vacuum packed. The Country Brewer's yeast which they clearly purchase in bulk and back down into 10g packets are not vacuum packed, they are definitely only heat sealed. I also noticed that they are no longer selling Fermentis yeast in the original Fermentis packet now; they are probably buying it in bulk and packing it down to the same package as their house branded Ale Yeast and Lager Yeast, again simply heat sealed.
Not too sure about other kit yeast packages with other manufacturers as I don't actually brew other than Coopers if I do a kit.
The Fermentis package is a nitrogen flushed package but is also more tightly packed around the yeast before opening compared to the "puffy" gold Cooper's yeast packages.
Soooooo..... To get back to the OP's original question, the yeast strain is good and will produce good beer if fresh but if it's old then the viability will be low (caused by packaging and handling problems), effectively meaning that you will have a low pitching rate.
Now, if you've pitched a too smaller number of yeast cells (ie low pitching rate), there are some tell-tale signs to help you identify this:
- Slow fermentation - this may allow for increased competitions of wild yeast and bacteria producing those legendary off flavours
- Amplification of undesirable aromas like acetaldehyde (think green apple or grass flavours) and esters (fruity, jam, banana flavours)
- Possibly an increase of diacetyl which will come out tasting buttery.
With all that, just remember to taste your beer well. If you notice these flavours and you've recorded the yeast use-by or manufacturing date (you do keep records don't you?), then you can then make an informed decision yourself to see if the $5 package or branded yeast from the fridge in the HBS is worth it. Again, poor fermentation temperature control will bring in off flavours like those mentioned above so I still say that it's better you work on your brewing procedures first and fermentation control, then look to better ingredients if you want to make a better beer.
To answer the question, are they rubbish. I'd say No, they are not rubbish, they are likely to be a good strain. Are they not at their peak when you actually get them? Probably no longer at their peak and may be not as good as buying a branded yeast packet like a Fermentis.
One last thing on Fermentis yeast though. They are obviously imported by a distributor and we don't know how they store them in the warehouse before ending up in the fridge of the HBS. It's quite possible that the first time they see refrigeration is when they hit the fridge in the HBS. I don't know. But, having worked in import for a number of years I can say that it's up to two weeks ex-factory to distributor ex-USA by air freight and maybe 5 weeks by sea freight. I'm guessing but if it were me I'd be air freighting and that's totally a commercial decision, nothing to do with caring for home brewers. So I'm guessing that there is at least a 2 week period when they are sitting un-refrigerated between factory and HBS, but in reality, probably more.
So even brand name yeast is not a panacea.
I need a beer after typing all that. It's only 11:30AM. Damn....