Feature summary (what you would like to be able to do and where): As the article on permanent links points out it self, "The pictures included in the page are still shown at their most current versions, as are the templates, most notably the boxes with text and images placed in the page's right-top corner, as well as any content transcluded from other pages. In other words, the permalink displays what the article would look like today if someone reverted to the revision in question." This in the long-term makes the feature pretty useless as the page will eventually just become filled with red links, broken templates, and deleted images. To solve this, I prepose that a version be create that will use recursively permalinked templates, images, and articles in the form they were when you saved the page (similar to what you get using archive.org). Deleted templates and images would be archived (note: archived images may be removed due to copyvios or other legal requirements), but not deleted pages. The permalink may be deleted if contains content that violates copyright or other critical issues, but if content was removed only for cleanup, consistency or other more minor reasons the permalink would be kept.
Use case(s) (list the steps that you performed to discover that problem, and describe the actual underlying problem which you want to solve. Do not describe only a solution): To mostly solve the problem of permalinked pages eventually becoming filled with red links, broken templates, and deleted images that makes the feature effectively useless on anything other than pure text articles in the mainspace articles in the long-term.
Benefits (why should this be implemented?): See above.