I do not believe that Lightroom has any explicit archive functions. I assume by "Archiving", you mean removal of files from the HD to save space. If your top level directory strucure is by date, you can simply move the older files to an external HD. The catalog will still be intact for searching, etc. If you want to edit the files, simply reconnect the appropiate HD.
I was creating catalogs for each year because I though it got too slow having it all in one.
This brings its own problems or inconveniences but it works.
I would like to hear more options.
Thats what I figured. I searched all of lightroom and couldn't find an archiving feature. So, I guess what I will have to do is make a seperate archive for 2008, and get it off my drive like you mentioned.
Most portrait photographers I know make a catalog for each job, and then just burn it to DVD and remove of from their drives when all is said and done.
It's interesting how many different ways things can be organized.