Will the Planters Last?
Yes for years. It is the same wear and tear as a sidewalk.
What about Frost?
They are frost proof. But like sidewalks they will have more wear and tear leaving them outside.
Do They Hold Water?
No they absorb water like a terra cotta pot, making it healthy for your plants.
Do They Leak?
When using inside I recommend using protection underneath the planter. Normally they do not leak.
Do They Need a Drainage Hole?
When using outside I recommend a drainage hole unless it is on a covered porch.