On the wet side it seems to me the only reason to go with wood is aesthetics. Composite stocks are lighter and water is not an issue. I love my Dad's Winchester Model 88 but I'd rather pack my Ruger American.
I would never consider a wood stock, but I'm more of a "it's a tool" guy then sentimental. Wood stocks are inferior to good poly stocks in every way except for the look and feel.
I wouldn't go quite that far. Wood stocks transmit recoil differently than polymer stocks and the biggest attribute for me is that they have a more natural sound when working through the brush. When a branch smacks against a synthetic stock of any kind, it makes a hollow thud. When the same branch hits a wood stock it sounds like wood hitting wood.
I have a couple of wood stocked rifles with my favorite being the little CZ 527 in 6.5 Grendel. It's been a hard use tool since it was built and the stock shows it. The same goes for my Ruger Hawkeye Alaskan in 375 in the Hogue over molded stock, it's been my other working gun for about 10 years and the stock shows it. The CZ looks like it's got character where the Ruger stock just looks like it's been drug behind a truck. Both guns come out in any weather with no concern for their well being and both have to get treated the same when I get home; barreled action pulled from the stock and the stock is allowed to dry before the action goes back in there. I haven't found either style of stock to offer any function benefit when they're both care for properly.