I've used HardiPlank and I am HUGELY pleased with it and like it so much more than vinyl siding. I just think vinyl looks flimsy while the concrete board looks more authentic, is indestructible and only needs to be painted every 20 years or so. I highly recommend it.
I've also had cedar on one of my homes here and it was the expensive paint jobs every 2 or 3 years that caused me to look at cement board. It might not be as beautiful as real cedar but it is MUCH lower maintenance and I would do it again in a heartbeat!
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