I'm not sure what experience Chip is drawing on to conclude that cellulose blown in insulation is not worth it. It is an effective thermal insulator that actively kills insects (boric acid, ammonium sulfate additives) and suppresses fire. It has been around a long time and is designed to be installed by the DIY home owner. Machine rental is often provided free, or at reduced cost by the company selling the insulation.
Insulation is blown in from the bottom of the wall and filling is completed from the top. So, you need 2-holes at each stud void to complete the installation. Insulation may be blown from inside or outside. Plugs are sold to patch vinyl siding, but the plugs will be visible if you are looking. Patching drywall is my preferred approach. Vapor barrier is not practical in this retrofit, so don't sweat it. Will not be an issue unless you have high moisture and temperature gradients. The manufacturers and vendors are helpful resources for technical information and can help you with installation options and locate plugs and patching materials.