Ivorois binding isn't new.
From Frets.com:
"Unless you're looking at a Martin guitar made before World War I, that ivory colored binding is almost certainly "ivoroid," a form of celluloid plastic.
Celluloid has been around for more than 100 years and is the most commonly used plastic material for binding and pickguards on stringed instruments.
Much of the celluloid was made to resemble natural materials like pearl, ivory or tortoise shell. The ivory celluloid was trademarked with names like "ivoroid," "French ivory," "ivorine" and a host of others.
Here's a sheet of ivoroid, fabricated into a raised fingerrest for a Gibson A-3 mandolin, circa 1920:..."
The rest of the article is here:
http://www.frets.com/FRETSPages/Gene...d/ivoroid.html
It's actually a vintage material. It also has a softer, warmer look. I had it on my XXX-MC and thought it looked great - certainly not cheap. But it also takes being a bit closer to it - otherwise, it looks like regular old plastic because you can't see the grain in it.
It's also expensive stuff. For my money, I generally prefer wood, but think that ivoroid can provide a very nice contrast that's not as harsh as white plastic.
Just my opinion.
Wade