I asked my PhD Metallurgist friend about keeping magazines loaded. Here is his reply:
As is usual with situations like these, there is no easy answer. As far as I can determine, these are the factors involved.
Gun magazine springs are generally made of spring steel. These are fairly high-carbon steels (0.50-0.60% C) and have other alloying elements like Mn, Cr, and V. The Cr and V affect the ability of the steel to attain hardness under heat treatment (hardenability to us metallurgists).
Apparently, spring steels vary in quality (one factor of which is chemical composition), which may be a reason for the difference in observed behavior.
Another reason for varying behavior could be the heat treatment. Generally, items like springs are heat treated in batches. After heat treatment, a certain number are tested, and if they pass the specifications, the batch is considered OK. This statistical testing scheme can fail to catch the ones that are too soft or too hard.
Therefore, if you got a gun magazine spring made of good material that was heat treated properly, you will probably not see weakening. But if you have a spring that was not manufactured to high quality standards, you could see weakening. I suppose that cheap magazines would have lower-quality springs.
The links below discuss gun magazine springs.
Magazine Springs - Quality Spring, Affordable Prices
What You Should Know About Magazine Springs | Gun Belts Blog
Spring Steels :: Total Materia Article
My own experience is with Ruger 10-round magazines for the 10/22 and the Butler Creek 25-round magazines. The 10-round magazines have a coil spring, much like a clock spring. After about two to three years (perhaps about 10,000 to 15,000 rounds), I notice that the rounds do not feed as forcefully as they once did.
For the Butler Creek 25-round magazine. I've noticed that there is also a decrease in the force of the feed. The above indicate that the springs are weakening with use.