Lots of good info so far... Just a comment or two.
Since you've mentioned some bad wood, keep carpenter ants in mind. Termites will eat good wood, carpenter ants go after wood as it starts to rot from water exposure... May be other pests in other parts of the country (bees as mentioned, etc). When you get to replacing any wood, obviously use a green treated version for the new stuff.
ALSO, keep in mind it can be a bug that is just crawling into cracks or crevices in the siding/trim. Do you have that invasion of (fake) lady bugs on the warm sunny siding during the later fall days where you live? I have cedar shingle siding in the gable ends of my brick house, and as the beetle invasion has progressed here (fake lady bugs + some other kind of beetle), my siding has been getting hit too. The holes are in line with the space between shingles for the row below in my case. I think I'll have to find some deterrent myself.
If some of the best times of my life were skiing the UP in -40 wind chill with nothing but jeans, cotton long johns and a wine flask to keep warm while sleeping in the back of my dad's van... does that make me old school?
"REHAB SAVAGE, REHAB!!!"
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