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In short, no. Archiving will only hide the asset in some dropdowns, but doesn't affect reporting at all.
If you are just putting old Programs in a folder you created called Archive, this will have no effect on reporting. It will effect any Folder Tokens you may have in place though.
If you created a Report that filters on folder hierarchy, then yes, this will affect reporting.
Otherwise, Jeff and Marketo M are correct.
You should set the folder to "Archive Status"