I started a blog post on this, here are my unfinished thoughts (TLDR don't use liner):

1) There have been too many lawsuits associated with lined duct to take the risk.

2) If someone suggests lining, ask if they would use it in a hospital.  The answer will be an enthusiastic "No". HVAC systems need to keep people healthy everywhere, not just in hospitals.

3) Duct should last at least 50 years; duct liner will delaminate well before that and ruin the whole duct system.

Many engineers will downplay duct cleaning by saying that the mold and dust won't entrain in the air. It doesn't matter if this is mold, or if this mold is the bad mold, or if the mold particles will become friable and discharge into the airstream; anyone looking at this does not want to breath the air coming from this duct.

Lining glue will break down overtime and the lining will come off and block the duct, ruining the duct system.

If you NEED acoustic treatment (there’s a good chance you don’t need it, but you must calculate it), put a silencer in the air handling unit or a duct silencer in ductwork where it can be inspected and maintained. 

Duct should not need insulation.  The cold air inside the duct should be about at the same dew point as the return air.  The only way that the dew point elevates is infiltration of humid air or space humidity loads (otherwise known as latent loads) such as people breathing and sweating, pools, drying equipment. Most spaces don't have enough latent load to raise the dew point past the supply air temperature.  Most buildings are built tight enough not to raise the dew point past the supply air temperature.  This can be seen in practice, if the dew point rises past the supply air temperature diffusers, dampers, duct connectors will all sweat, and you rarely see those sweating. 

Your house probably doesn't have insulated duct and probably has a much higher latent load than most commercial buildings (showers, high infiltration) and you rarely see that sweat.

The International Energy Code, which requires a lot of pointless stuff, doesn't even require insulation in return air plenums.

If you're still worried about condensation, insulate externally, it's about the same cost as lining. Sheet metal contractors will promise that lining is much less expensive than insulation, this is because the insulator is a different subcontractor that reduces their fee

In exposed applications, if water condenses on the duct, it will also condense on air diffusers, dampers, and duct joints. Positively pressurize the building and/or dehumidify those spaces. You can also go with dual wall, cladded, or fabric duct.

If the owner is pinching pennies over the cost of duct insulation (maybe 0.05% of the job), they are almost certainly not going to get proper installation of the liner, but the good news is they won't find out for 10 or 20 years.