DIY siding

I have a bandsaw mill and access to a fair bit of logs (fir, pine, and cedar). What is the most economical way to make house siding? What I'm after is the most economical "shape" or profile.
One thing I was thinking of doing was cutting 1X8s (true size) and then setting up my planar at a slight angle and running the boards through the planer (with the blades removed or down so they don't plane) and into the bandsaw mill- basically use the planer as a board feeder (don't worry, it's a cheap HF model so I won't be overly abusing a quality piece of equipment).
This will cut each 1X8 in two so that it is wedge shaped with one side being about " thick and the other " thick (slightly less due to kerf). Then I can just "shingle" the horizontal lap siding to the house with rough cut edge out.
Anybody done something similar or see flaws in this? Is it worth the time? Well actually my wife is a stay at home Mom and can probably do a lot of this while I'm at my day job so time really isn't a consideration. She's happy to do it because she's motivated to get new siding and a more attractive house. :)
Also, I have access to a joiner too so that might be the better way to go. If so what shape should I use that will be the easiest?
J oa
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I've made a few thousand feet of lap siding on a Woodmizer. The best way is to get one of their tilted feeders for the bed. It feeds the board through at an angle, like you say, but supports it well as it goes under the blade, to keep the cut straight.
Cut your boards 8X1 1/8 to 8X1 1/4 and you'll get nice heavy siding. Mine is pine and poplar. Dry it a few months with a cover over the top (I use roof tin.) after cutting the boards and before splitting. Use soon after splitting, so it can't bend.
I made a long tank of 2X10s, lined it with flashing metal, and dipped my boards to get good penetration on both sides. It's a lot of work, but about 50 cents/SF when all is sid and done. That's paying .20 to saw and another .20 to bevel. I used Behr oil stain. They say they have a better one now, with silicone.
You'll need 2X trim boards. I used treated 2X4, to be sure they wouldn't deteriorate.
Wilson

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