In my mind, YOU can build <span style="color: Green">($$)</span> a wood stand that is plenty sturdy/strong to hold a tank that size, and probably at a fraction of the cost of a steel stand. Once you have someone else build it for you <span style="color: Green">($$)</span>, and powder coat it <span style="color: green">($$)</span> so it doesn't rust, and deliver it <span style="color: green">($$)</span>, and skin it somehow<span style="color: green">($$)</span>, I'd think you'd be into it for much more than a DIY wood stand.
For me personally, this would be a no-brainer. If I can get the same result for less jack, that's the route I'm taking for sure. For what it's worth, I've never owned a steel stand, and likely never will because I see it as an unnecessary expense for the tanks I've owned, or care to own.
So, it boils down to this...you have to ask yourself; what do I need this stand to do, and can either of these two materials make that happen?
• Hold the tank up level, and support the weight. Wood √ Steel √
• Provide enough room underneath for the sump and other equipment. Wood √ Steel √
Then you should look to the future a bit...I think when you get ready to start adding/changing out parts and pieces, as we all do, you'll become frustrated with the steel stand.
With a wood stand, you can just grab a screw and screwdriver and attach that PVC strap, or mount that controller box, etc.
What do you do with a steel stand? It can possibly, and unnecessarily complicate things.
I've personally never seen a wood stand warp, like Rick mentioned, but that's not to say it couldn't happen. I'd think there would have to be some pretty bad things occur to facilitate that, though. Not trying to be flippant, or sound like an educated posterior, but I'm assuming this tank/stand will be maintained inside the living area of your climate-controlled residence; correct? And you're not going to be routinely dumping lots of water on the stand, and this will be one of maybe two tanks, and not sitting in a humid room with 50 or more tanks.
I personally believe wood is your answer, based on price.
Hope this helps with your decision...