Cracks on the joins after a few years in a lot of cases. Insulation properties are like most FC cladding. The wall insulation batts do the work with a bit of assistance from the cladding. Insulate the walls no matter where you live or what material is on the outside or inside. Insulation is the answer to an efficient home. Its a prerequisite anyway with energy efficiency legislation, quite cheap as well. James Hardie/Scyon are good products. Not cheap or really quick but nothing good ever is. Hebel panels are a good alternative to brick but really the thermal mass is better on the inside of a house not the outside. So reverse brick veneer or Hebel internal walls with FC cladding outside and bulk insulation to wall cavity's.

Thanks @siriuskey. We had the same thought, but our builder said the frame style moulding is for interior use only and would perish in 2-5 years in the full sun on the front of the house. Perhaps there is moulding that is suitable for outdoor use... I do like the look. One of our neighbours has done it (blue-grey paint, white window frames) and it looks good. We have done the kitchen window in the back as an experiment; it is undercover and out of the sun though. I like the grey idea, but our neighbour's house is shades of grey (not like the book ;) and we didn't want to be too matchy-matchy. We might have another think about the paint... thank you for your comments. :)

Well, HU-115348458. After learning what can happen to ply in my project here in Oz, I worked in the UAE where high temperatures and arid climate means that timber screens dry out and warp. For screens there, I used aluminium sheet with slots cut out. No twisting, shrinkage or need to repaint etc. This is Al Muneera in Abu Dhabi . However, your problem is exterior cladding. I would suggest that you use fibrous cement sheet with a suitable paint then attach your battens with screws through nylon washer spacers so that the battens are not hard against the fibro and rainwater has a chance to dry out. The below image shows this methodology used on the end of a RV toilet block I designed here in Eumundi.

Agree it comes down to preference. I would consider how much of the board and batten you would actually see once the bed and other furniture is in the room. I love the B&B look but if you aren’t going to see the impact of it, why spend the money?