In case there is still confusion about calendar life vs. cycle life, I'll try my best to clarify.
Calendar life: the life of a battery measured in time (even if you don't use it and just store it).
This depends on average temperature and state of charge (SOC). The higher these are, the shorter the calendar life (caveat: some chemistries are less affected by SOC and have wider operating temperature ranges). This explains why "Storage Mode" in the Roadster is at lower SOC and why Tesla packs have liquid cooling to keep the battery at 25C. Tesla quotes calendar life at 7 years for the Roadster; I would expect the same for the Model S since it will use similar cells.
Cycle life: the FULL cycles a battery can last using 0-100-0% cycling @ 25 Celsius & 1C discharge (1C means using 1 hour to fully discharge the battery, 0.5C means using 2 hours, etc.)
This means cycling 0-50-0% two times is still counted as one full cycle, not two. Put another way, charging 0-50-0% only counts as half a cycle. However, the impact of charging partial cycles at lower max SOC is less than cycling 0-100-0% all the time (this is related to the calendar life part, where you want to keep average SOC over the life of the battery low). That is why Tesla has a "Standard Mode" (~10-90%) and why the Leaf offers a "80%" mode that is used during typical charging.
The relevance to the Model S is that since lithium cobalt 18650 batteries have a cycle life of ~500 cycles, you can easily estimate expected life in terms of miles using 0-100-0% cycling:
160 = 160miles/full cycle * 500 full cycles = 80,000 miles
230 = 115,000 miles
300 = 150,000 miles (**note: this pack uses different & newer chemistry so this estimate may not apply**)
You may get better than these numbers if you mainly charge in Standard Mode or even Storage Mode. You may also get better than these numbers if your average discharge rate is lower than 1C. Both will be easier to do with a larger battery pack.
End of life (EOL): Different manufacturers will define it differently, but according to Tesla, the industry generally defines it as 70-80% capacity left.