What will work, as license will never expire, is Firewall, Identity Awareness, Advanced Networking and IPSec VPN. For IPS see sk44175:
You must have an IPS Software Blade contract to use the full IPS Software Blade functionality on a gateway. If a valid IPS contract is not associated with a gateway:
Protections will be limited to only those protections that were available as of March 2009 (the same protection set that existed when R70 was released). All protections produced after March 2009 will be disabled.
CCSP - CCSE / CCTE / CTPS / CCME / CCSM Elite / SMB Specialist