I imagine that well made and maintained timber windows can outlast (and out-beautify!), any PVC window. Depending on the architecture of the rest of your home, they can add an old-world charm, or a clean and strong contemporary feel.
Check out the scalloped roof!!! Okay, focusing...
After a little reading, it looks like your biggest concern is the fact that wood contracts and expands, so managing humidity in the interior is important. Also, maintaining the windows' exteriors with the proper sealants and finishes will ensure they enjoy a long life.