I've got hot sauces that I've been working through for several years and have found that they always continue to develop. I assume this is a function of oxidation, much like wine or whisky aging in a barrel. Whisky will age and develop as long as its held in a barrel because of the slow oxidation that takes place through through the pores in the wood. But once its bottled it will, if kept at a constant cool temp and in the dark, it will pretty much stay consistent until its opened. Wine is similar, but will still continue to develop in the bottle, but at a much slower pace.
If it is oxidation that causes changes in hot sauce as it ages, there are things you can do to lesson the affects of time. When you jar or bottle your sauce, leave as little air as possible, and don't allow new air in until you open it to use it. Store it in a cool and dark place. Once open, store it in the refrigerator if you think it'll take you more than a few months to finish the bottle.
So I'd say age it until you think its perfect, then bottle it up really well and store it away until your ready to use it.