I use rice starch paste in the conservation lab where I work. In order to mix it up easily, we use a self-stirring, self-warming pot. It also absolutely has to be refrigerated, and even then will go bad after about a week or so. You'll be able to tell it's bad because it's no longer tacky and it doesn't smell so nice.
As Sdia said, it's very strong, acid free, pH neutral, and water soluble. However, for bookbinding and box making purposes in the lab, we still use good old PVA. I agree that paper artists should learn more about glues and the paper materials they are using, because let's face it: a book made of Elmer's, cardboard, and construction paper is going to deteriorate much more quickly than a book made with quality archival materials. And when you spend so much time creating, don't you want the end result to last?