But there's no reason to believe that will be possible either. By that same reasoning it might be possible 'in 5 years' to recover the erased (and overwritten)

But there's no reason to believe that will be possible either. By that same reasoning it might be possible 'in 5 years' to recover the erased (and overwritten) data from the storage device, so you never can delete anything. If you use something such as AES 256, which is approved for use to encrypt 'top secret' information by the NSA, and through some miracle it turns out that we can easily decrypt such data in 5 years, then I'm pretty sure you can argue in court that you were following best practices and had no reasonable way of predicting this encryption disaster.