Benefits are that is does not rot like wood, though it can get brittle over time, especially with long exposure to hot sun. Better color retention and when power washing to freshen up the appearance, you don’t have the paint layers chipping off and the resale value generally improves as well.
Though a few things to consider is and it can happen with any siding is improper installation can result in warping and in high wind areas, older technology vinyl is generally more prone to detaching.
There have been many advancements in the manufacturing of the various types of siding over the years and there is no shortage of questionable contractors with access to a lot of old technology siding.
So in closing, the best advice is as easy as calling your local building supply company who can provide you with the latest information from the industry professionals.
Good Luck on your project Justin