I have read that mixing-up Star*San well in advance is not a good idea because it loses its strength over time. Any truth to that ugly rumour? Does it turn back into just water if it sets for long periods of time?
I think there's a fair bit of conjecture in the whole discussion. For me, out of pure ignorance of the mfgr recommendation, I kept the stuff for months in a 5 gallon bucket with a lid, and would just change it out when the mood struck me. I never knew there was a recommendation to change it every batch. Did that hurt anything? No. But that might be because I'm really fussy about cleaning. After stopping in here again after many years, and reading a bunch, lots of people think cleaning is more important than sanitizing. Maybe that's why my old sanitizer works so well is that it has nothing to sanitize. I do what's worked, and replies above seem to indicate plenty of people do the same thing. Maybe we're all wrong about letting it sit around... As long as the beer isn't contaminated, I'm going with it till someone convinces me there's a danger otherwise.
As to the concentration for a small batch, I never cared. When I make a new 5 gal bucket of it I dump what's in my countertop spray bottle and refill it from the new bucket and that's worked for me. I am never without a 5 gallon bucket of it sitting with the lid on. I simply use it too much.
When I run a bottle tree (rarely bottle) , I use saniclean for the low foaming. The recommended concentration is higher on that. 1.6oz/5gal if I recall correctly. You need more than a full measure on the container anyway.