We plastered the house with Optiroc's Serporoc system. When I spoke to a technical expert at Optiroc, we concluded that mineral wool insulation is better. They do have polystyrene as well, but he wasn't too fond of this solution, without saying it directly. He mentioned that polystyrene is often used on rental buildings and the like where there's more cost-cutting. However, he noted that polystyrene more easily creates thermal bridge joints, which can result in a checkered house in winter...
Anyway, mineral wool and a thick plaster (2cm) is a very common and viable method.