IMO, stay away from siding that's less than .042" thick. Try and choose a neutral color like lite gray, white, baige, bone, etc., etc., or you may end up with a difficult time selling the home later (just a thought). Read and verify the warranty with the MFGR, not the retailer, that the 'surface' the vinyl is layed on will NOT void the warranty. A couple of MFGRs require a smoothe surface on which they'll warranty their siding. Before you do any installation work, now's the time to plan to put in any additional electrical and water outlets. I put one of each one each side of my home. If you don't have soffits and gable vents, now's a good time to see if either/both can be put in. I ripped my solid soffits out and put in vented ones. I had gable vents but nothing beats having that air rise up under the roof sheathing to keep it cool! Get a few estimate and price everything. We even put in a window to add more lite to the 2nd floor.
I know this is lots. I'm a little biased towards vinyl though. Best to ya and hope this helps. If you need more specifics, e-mail me directly.