If I re-shake my own house, it's a no brainer - oil solid stain the whole way. But I think you are comparing apples to oranges. When paint fails - it peels off, you have to scrape it, sand it - spot prime - etc. Not to mention you can't even feather sand latex like you can older oil based paint finishes.
If you want to reside your own home - you will be doing the siding yourself - you will be putting that benjamin obdyke material beneath the clapboards that allows the moisture to run out the bottom - you will be putting factory primed clapboard, then priming all the cuts. Then you will allow your siding to weather for over a year, then pressure wash clean, reprime your whole entire home with and oil based primer, caulk with the highest quality caulking, a coating of exterior 100% acrylic latex primer, then two coats of 100% acrylic finish paint. And you will be doing maintenance washings every year - keeping up with roof repairs - and you will be putting a coat of paint every 6-7 years. Then yeah I think the paint will be a really good option.