If you want to keep the architectural style of the home I'd go with wood. Life span of wood is longer if it's maintained (paint every few years). Vinyl costs less but you're limited on color and has very monolithic profiles.

Two completely different materials.

The design, in that comparative, almost universally comes down to aesthetics and the feel of the window.

There is no data to indicate that replacement wood windows will last any longer than a vinyl window of similar quality. Actually, more the opposite.

Vinyl will have a less organic feel to it but what that look is worth is up to you and it will obviously come at a premium.

Many of the vinyl windows that are out there are going to be more block frame construction as indicated, but there are quite a few that have a nice colonial detail to the outside these days as well.

Before I would feel comfortable making a suggestion one way or another I would like to know more about the exposure and climate. Also you should answer a few questions honestly to yourself. How likely are you to preform the maintenance required for a wood window? Does the home currently have Architectural significance that would dictate the need for wood windows.

How do the windows operate? If they are horizontal sliders wood windows may not operate as smooth as vinyl. What color scheme are you leaning towards? If you choose a darker finish on vinyl, they can scratch rather easy usually exposing the white substrate.

Thanks for the input. We live in Michigan and the windows have a northwestern exposure. The only thing I am particular about style-wise is the window sill. I would like to keep the existing inside window sills. Is that possible with a full tear out and vinyl replacements? They are not horizontal sliders. And I would like white windows. Thanks again!

Keeping the interior sills (stools) would not be a normal application of a full tear out.

You are sounding more and more like a qualified window insert candidate.

Have you considered that option?