I was always told operating any motor @ > 1.0 SF will shorten its life from design, and of course it will. It is also my understanding motor manufacturers take this into account, and that the purchaser can expect to achieve the full shortened operating life provide there is no exceedance of load beyond SF. My employer built coal-fired generating stations that loaded most of the auxiliary motors right to the edge of their 1.15 SF when the unit was at full load, which it could and often enough did maintain 24/7 for weeks at a time.
My utility first began constructing these plants shortly after WW2, and their expected operating life was often chosen to be no more than 35 years, often with a view to their being replaced with newer technology and higher efficiency power plants in the future. "Life extension" projects were undertaken at a few of the more strategically located ones . . . but very near the turn of the millennium the last of them was decommissioned, and to the best of my knowledge only the motors of a few of the electrically driven boiler feed pumps ever failed during all those years.
So on that basis my utility would have answered the OP's question of "How long can motor stay in full Service factor?" with the word "Continuously."
Nowadays my utility specifies that trafos are not to be deliberately loaded above their continuous ratings, except when one of a pair of them is out of service, in which case it is permissible to load the transformer to what we call the "10-day limited time rating." I also recall seeing a transformer station where the trafos were loaded to 1.5 x their continuous rating . . . for 20 seconds, followed by an almost-no-load-at-all period of forty seconds or so [ the load was some manner of steel mill process ]. The trafos operated for decades without sign of injury.
Analogously, if one wishes to exceed the loading of a motor beyond, say, 1.15 x continuous, some manner of limited time rating would have to be developed and rigorously adhered to.
Hope this helps.