What is the "proper" method and length of time to store coffee for best taste?

You can store your coming week's supply of coffee in an air-tight ceramic canister on a counter or shelf (in a cool dry place).
 
However, when coffee is stored at room temperature, conditions are ripe for oxidation, which is why the recommended maximum storage time is just 3-4 weeks for beans and 7-10 for ground coffee.
 
A good combination approach is to store a small supply of beans in an air-tight container on the pantry shelf, and freeze the remainder in small amounts you will use to make 1 pot of coffee. Allow the beans to warm to room temperature before opening the container.
 
Warnings: Do not put whole beans in the refrigerator; they may pick up refrigerator odors and make your coffee taste of onion. Do not freeze ground coffee; it will just go stale. Many sites also advise against refrigerating ground coffee because of problems with moisture. Ezine@articles recommends not freezing or refrigerating coffee in any form because of problems caused by moisture.
 
We suggest you try the following advice from the "Source Book for Food Scientists" and see how that works for your cup(s) of coffee.

Source: Ockerman

We should clarify here that, when we talk about the taste of coffee deteriorating over time, we're talking about what most people would consider a pretty subtle difference. Obviously, the more of a connoisseur you are, the more likely you are to recognize when coffee has gone stale. However, if you're thinking to yourself, "Gee, I've had jars of coffee sit around for months and months and never noticed any change in taste," a) You're not alone; and b) How seriously you want to take these "use by” dates is really a judgment call. If six-month-old coffee tastes the same to you as one-week-old coffee, far be it from us to try to convince you otherwise.

Source(s):

Ockerman, H. Source Book for Food Scientists. Volume 1. 1978. The AVI Publishing Co., Inc.

Susan Brewer, Ph.D., University of Illinois, Department of Food Science and Human Nutrition

About.com: "Proper Coffee Storage"