My ipe has faired well in DC (about as much snow, more ice and less wind than STL). I like the cable railings too (even though others might argue horizontal railings are bad for kids)

You might want to consider some of the artificial ( composite deck/ cellular PVC) manf. such as TREX or AZEK or TiberTech they all manf; railings in faux wood and painted finishes and will be absolutely maintenance free for decades. many look like real wood but wear like iron.

If your in St Louis your better off using Composite decking such as TREX, easily available from Home Depot or your friendly decking store, Cedar will need to be refinished every other year, initially Cedar is cheaper, but over the life of the deck it will cost you a lot more and you will need to replace your decking within 10 to 12 years, with Composite decking you will have a life time of enjoyment with low maintenance, plus it has the look of real wood.
You can also get TREX Railing , it is a middle price point, the next step up would be Cable Railing which is a deluxe product, with Metal handrails, or if you want to save some money you can use Wooden posts and and Handrail with your stainless steel railing.

Good luck

Here are some deck cable railing ideas.
http://www.houzz.com/projects/364179/Deck-Cable-Railing/ls=5

Ultra-tec, what railing do you use for stairs? the top rail on stairs can't be wider than 3.25" in my area.