I am ready to apply siding to my home. Any PRO & CONS on the two materials

Hardi-Plank looks better but will require more maintence than Vinyl and is probably more expensive to install.

If your house burns... more than likely it will be from the inside out... sideing will be of no importance. Vinyl is Cheaper, Quicker and zero maintence. Most Hardi-plank siding comes with a 25 - 30 year warranty... Vinyl is generally lifetime.
Mike

Hardi plank siding is a wonderful option to have installed on your home. James hardie offers a 50 year warranty on the siding itself. Hardi plank siding isn't high maintenance, in fact, it's low maintenance. Yes, the prices are a bit on the high end, but not that much more than some vinyl siding on the market today.

Vist my article about hardie plank siding and watch a real life fire-test on how well hardi plank siding did up against its rivals: wood siding and vinyl siding.

Hardie Board Siding: Pros, Cons & Hardy plank prices (http://www.mbmcarpentry.com/blog/hardie-board-siding-pros-cons-hardy-plank-prices/)