The main problem is that have to be sure that the archived data aren't linked 
with the current data. You are going to break those links otherwise.

With MySQL you could use another storage engine for archive, then link archive 
and current with a view.

But in Postgres such thing doesn't exists. There is only one storage engine. 
You could play with compressed table. 
http://wiki.postgresql.org/wiki/CompressedTables

You can also delete old records if you want.




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http://www.openobject.com/forum/viewtopic.php?p=39081#39081

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