Plastic Oboe
• Pro: Does not crack. Consistent quality. Last longer. Easy to maintain. No break-in period.
• Con: Doesn’t sound as good to the player. Some people may think you are not serious.

Wooden Oboe
• Pro: Better made and better sound on high-end models. Sounds better to the player.
• Con: Cracks. Inconsistent even among the same model. Constant care is needed. Instruments need to be broken in.

Notes
I generally recommend plastic oboes for beginners and wooden ones for more advanced players. One of the biggest drawbacks of wooden oboes is that they can crack. With proper repair, a cracked oboe can make a full recovery and sometimes it plays better. But it’s very traumatic and it often affects the resale value, not to mention the interruption in practice and performance schedule.

For the listener, usually there is very little difference between plastic and wooden instruments. But for the player, the difference is usually clear. When we hear a pleasant sound, we feel better, as a result, we tend to play better. For inexpensive instruments, plastic oboes are far more consistent in sound and over all reliability. However, there is nothing like a good instrument made of exceptional wood. Also wooden instruments are tended by more experienced hands. There are highly regarded professional plastic models (such as Yamaha), but the norm for high-end models is still wood.

To keep wooden oboes in good condition, they need to be played consistently. Unlike plastic instruments, neglected wooden oboes lose their value fast. I like to find used professional instruments for intermediate players, but, depends on how well they are kept, it can be very tricky to find good instruments. Also, brand-new oboes take 3 to 6 months to break in. When you try new instruments, you have to know that the sound you hear is not exactly the same sound a few months down the road. The sound generally opens up (for the better), but there is no guarantee.

As I understand, the top joint of the oboe itself vibrates very little. Rather, it mostly work as a resonating chamber. On the other hand, the rest of the instrument (particularly the bell) produces a great deal of vibration that affect the overall sound. As such, the combination of plastic top joint (which most likely to crack) and the rest in wood (many high-end makers offer that choice). If you are nervous about cracking but desire wooden instrument’s warm sound, it could be a choice to consider.

For further reading, Covey Oboe has a very good article on selecting instrument.