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I have found an old wooden box full of loose lead Pu-erh, which has been sitting in a cupboard for many years (5-10). The tea itself is in a cloth sack inside the box.
Apart from drinking it, how do I judge if it is spoilt? Is this a good way to store loose-leaf puerh and how long can it be stored?
I did taste it, and it did taste clean, with a little bit of earth aroma but that's about it.

If the tea doesn't smell spoiled and doesn't taste spoiled, then it is not spoiled. I would say that a wooden box is perhaps not the most ideal storage condition as, depending on the wood, unintended aromas can be imparted into the tea, but if it smells and tastes fine then don't worry about it.
Loose-leaf puer, if properly stored, can be aged indefinitely.

Brew that find up! You may have something special as puerh ages well.