The respected scientific journal Nature reported on 10/10/2012 that DNA has a 521-year half-life and that “genetic material can’t be recovered from dinosaurs”. This gives a maximum survival age of 6.8 million years. See the full article here: http://www.nature.com/news/dna-has-a-521-year-half-life-1.11555#auth-1
On 10/23/2012 ScienceDaily reports that analysis of dinosaur bone cells confirms ancient protein preservation “and possibly DNA”. See the full report here: http://www.sciencedaily.com/releases/2012/10/121023151333.htm
Dr. Mary Schweitzer’s work has long been used by young-earth creationists as proof that dinosaurs did not live as long ago as radiometric dating seems to suggest. Now there is definitely one thing we know here: one of these is wrong! Another quote I feel is appropriate here comes from another recent Nature article: “Now we’re finally able to look closer, and we’re finding that they’re often wrong. But if you think about the tools they had, maybe it’s more surprising that anything is right at all.” I agree.
A recent online friend has submitted this inquiry to the scientific community on reddit.com. You can follow any responses here: http://www.reddit.com/r/askscience/comments/12554a/under_ideal_conditions_how_long_could_protein/