I too support John in his approach. Vinyl can be an important preservation
step, particularly in "affordable" neighborhoods.  And if installed well,
with sensitivity to the architectural elements and members doesn't even look
that bad at a distance.  I have stripped back to clapboard many 1880's and
90's buildings covered with asbestos shingles, tar paper, roll roofing, wood
shingles, vinyl and aluminum to name a few, but rarely seen major damage to
the original siding as a result of the mummification.  I would venture to
say that a layer of latex might be more dangerous than vinyl siding.  What
say you Bryan - Moisture Meister?
Best,
Leland