Do wetsuits loose their "effectiveness" over time?

If it becomes loose it will lose its effectiveness.

I know with diving they definitely do.  The material has air bubbles in it and when you are at depth the bubbles are compressed.  After so many times of being compressed they don't pop back as much, thus losing their buoyancy.

I'm sure even though you aren't at any depth the water still eventually starts to deteriorate the material. 

Well, the deepest I've been in my tri wetsuit has been about 1 foot, so there is not the compression issue.

Is it supposed to absorb ANY water? When I soaked it last week, I noticed I could wring a little water out of it. I was surprised at that.

JC

I could see the neoprene material starting to breakdown a little after 10 years especially if you ever dry it inside out in the sun.