We did wood in our early 1900's home. Given the ease of putting fresh paint on wood vs. trying to clean grout, I'd say wood is every bit as long-term durable as tile.
That being said, I really like the look of a fully tiled room and think it looks even more 'vintage' if you're using the right tiles together. The one posted earlier is awesome.
The upstairs bath is 5 years old now, and I have an 11 year old daughter and a wife who bathes every single night. No water issues at all. I replicated the trim for the smaller 3 piece bath in the basement.
Q
