Will last a long time as a vacuum pump, though I would also go find a car fuel filter ( either the smallest plastic one you can get, or the standard VW fuel injection type) as an inline vacuum line filter. Keeps the dust down, and if you want to improve things get a standard compresser pressure switch and use it to turn off the compressor when you are at suction, and use in conjunction with an air reservoir ( old disposable 20lb/13kg refrigerant cylinder used as vacuum reservoir) so there is a suction reserve as well. Will need extra non return valve but worth it to have instant suction.
As to lifetime, they last a long time run this way, just keep a note of the oil level, and if it is too hot to keep your palm on the side of the compressor housing for 20 seconds it is time to stop and allow to cool down. they can generate quite a high head pressure as well, you can also use one to provide air ( though add the injection fuel filter as well to get more of the oil mist out of the air) to blow parts dry.
And as to refrigerant, I have enough R22 to last me, sitting still in the cans. As to wasting R134A, that stuff is expensive, not something you dump willy nilly, though of course with most modern fridge and freezers there is none any more, either R600 or something else, and there they will use POE oil even though mineral oil works with R600.
Oil is generally 32 viscosity, though some bigger ones use 68 viscosity oil, and I have a vacuum pump that uses the 68, so that is what I buy in 5l containers. Small vacuum pump uses it as well, and I change it regularly, and have seen many refrigerant guys with black sludge as compressor oil, seems like they have the original oil from new in there after decades of use, and never change it, just run it hot enough to boil the water out. I do the same just change the oil out regular, and when it turns the slightest bit milky or turbid. Oil is cheap, and I recycle it as well at a depot, though they just use the mixed and contaminated oil as either furnace feed oil or to blend bitumen.