blueman wrote:
I need to replace some exterior wood trim on our 150 year old
Italianate home.

The wood will be painted.

What is the best good quality (but affordable) wood to replace rotted
portions of trim?
(The areas are not in direct ground contact so I am not looking for PT
lumber).
....

I'd ask some other questions first--
What was used originally? My first inclination is to go back on any
structure that old.
What part of the country are you in?
What is the weather exposure of the pieces and any particular
pieces/areas?

In general, while it undoubtedly wasn't what was used before, cypress
is excellent, as is fir. Much white pine from years ago lasted a long
time w/ proper maintenance. More recently, other pines/"white woods"
are probably the most prevalent. For painting, cedar is not a good
choice.

Depending on the locations and types, you might even consider the newer
non-wood replacements.