Thanks for the posts!
First, so as not to claim more than I am, it D.R. as in initials, not Dr. as in doctor. No PhD here, more's the pity!
I am however an BSME (Bachelor of Science, Mechanical Engineering) and one of the things engineers tend to want is cost effectiveness.
Stainless steel, while it would certainly work and last a long time, would tend to be VERY expensive for an unproven project, unless of course you have some laying around as scrap and can do all the joinery yourself. If that is the case, lay on Macduff!
Were I doing this project, I might start with wood. If the project succeeded and the need for the stand exceeded the life of the wood, that would be a great time to use SS.
Just a personal opinion, no real expert opinion here!