Gray stain! It can be beautiful - like weathered wood. Agree that stain + clear finish is less hassle than painted floor.

stain is going to hold up better than any normal paint

I'll chime in for paint, the aesthetic preference for me.

Is the contractor a qualified old house specialist? Many Victorians by me had their porch floor stained a wood tone. First it is not historical second it is not practical. Those that did, painted it in 3 years. Apply a gloss porch paint. Do not prime it if using Ben Moore or Sherwin Williams but apply the paint as primer. Gray will not show the dust but it is still there so don't think you don't have to sweep it. Depending on the house colors a dark porch looks real nice but also shows the dust.

We used Benjamin Moore Arborcoat on a sixty by twelve covered deck and it went on like silk. They have a beautiful soft gray, and they can be tinted to any color you like if it is not the gray you prefer.

Arborcoat is a waterborne latex stain available in a solid, semi-solid, semi-transparent, translucent finish as well as a clear top coat.

so which way did you go? Semi solid or semi trans IS my choice!! No painting on cedar!

After discussing with the color consultant at Ben Moore, I bought California Paints porch paint in silver gray. I trust her as she helped me pick the colors for the outside of the house. Now I'm waiting for a non-humid, cool day to paint.