I can't help with wood selection, but I would recommend reading Nick's book before beginning - he has a nice section on wood types, grain patterns, etc. If I remember correctly, he also mentions that it may be preferable to use smaller lengths of good wood, vs. long lengths of poor wood...then you can get into the issue of scarf joints vs. butt joints, etc. If you live in the Rhode Island area, send me an e-mail, and I'll give you the address of a "builder's surplus" store that sometimes has neat stuff, like alaskan yellow cedar, mahogany, maple, etc. for good prices.