HighPotential,
I avoid lined duct and plenums whenever possible. That being said, Armaflex (possibly some other companies as well) makes a closed cell, elastomeric liner material that has some properties that, I believe, make it superior to the traditional fiberglass liner. Similar to their pipe insulation, it will not absorb water like fiberglass, and is much more resistant to biological growth and capture of dirt. R-value is comparable. The only thing that I can't vouch for is its acoustic properties as compared to fiberglass, but depending on your application, this may not matter.
I guess it's all in how you define "superior," but you might want to check it out.
---KenRad