I recently was testing some "new in package" Energizer NiCd cells. They are about 15 years old. About a third of them have come back to decent performance, but I think all of them have some indications of damage.
1) I've got some Memorex D NiCd cells that are around 17 years old and have only been used a few times in the last 15 years. A couple of them read 0.00V on the DMM but seem to work fine after charging. It's hard to say how much the performance has dropped as I never tested them when new but they are all consistent even the ones that read 0.00V and the one cell with white residue on the +ve contact.
2) I also have a 15 year old 6 cell sub-C 1700mAh pack that I abused the hell out of as a kid. I always did 20min fast charges, never left the pack on trickle to balance and ran it down as low as it would go. I've also shorted it quite a few times. The performance has reduced but it still works!
3) I had a Black and Decker cordless screw driver with NiCd pack which was left permanently on trickle charge and only used occasionally. This was good for about 10 years and barely useable for about another 3 years. I've only recently thrown it away.
You will probably get different results depending on whether they were discharged before storage, never charged at all after manufacture or allowed to self discharge(worst case).