polystyrene extruded moldings are available in many profiles, sizes and colors. The wood grain moldings such as ABTco (Louisiana Pacific) are a dead ringer for the real think and can be obtained in oak, ash, maple and other grains. They are much less expensive than hardwood molding and much lighter in weight and easier to install. They are uniformly straight and install just like wood with a nail gun or finish nails. I did a whole house in this stuff and got a lot of compliments. You can tell its not wood, only if you tap on it.
Drawbacks are that casings and base are more easily damaged. I also noticed it made noise when it expands and contracts unless it is glued. See examples the following link: