I installed this dripless packing in April 2003, and I just replaced it this Spring. So I got six seasons.
I did adjust probably once per year, and I have put about 710 hours on the engine in that six year period.
When I replaced the packing this Spring, the reason was just that it was six years old and not because I was having any issue with it. I did find that the packing was fairly dry and in my opinion ready for replacement.
BTW, the first packing which was the standard stuff lasted five years and 570 engine hours with no issues.
Your mileage may vary.