Hmm I hadn't noticed this yet. I may need to look into it also... I sell almost 100% unique items, so the whole inventory level and reoccurring item theme does me no good. I was actually looking for a way to make items sold, but keep them listed and searchable for X amount of time (many are antiques).
Also I keep my images on the file system, so I bet those don't get cleaned up either? Something I'll need to check!