Confuzzled in Sloatsburg wrote:
We are giving consideration to replacing our 40 year old wood windows.
They are drafty and bugs get in through the screens.

We are planning on selling the house in 3 to 7 years.

Here is what we see our options as being:

Replacing with vinyl
Replacing with wood
Replacing JUST the storms and screens
Not replacing anything at all

Are there any other options that I am missing?

HEEELP!!!
Confuzzled in Sloatsburg

You need to do an economic analysis.
Cost versus payback.
Also, replacing entire windows could be a big pain in terms of mess.