I use the Nash Instant Action Tangerine Dream quite a bit, in fact it's the only bait that has stopped me buying Richworth Tuttis for my cold water angling.
Yes these baits are pretty hard out of the bag, but that's because they are dried for 48 hours after cooling. They soon soften up once in water, if they didn't I doubt they'd be such a good bait.
At times I've had access to quite large quantities of Nash shelflife baits very cheaply (misshapes) (friend of Bayesy) and have fed my lake with them when there has been little bait going in by anglers and the fish have thrived on it, so it can't be that bad.
All my other bait has been shelflife for the last five years and my catch rate certainly hasn't suffered. I really should empty and get rid of the two bait freezers in the garage.