We just had a similar situation putting on our new deck. The run down the builder gave us was basically that merbau is ultra stable, hardwearing but will release heaps of tanins for months afterwards, which can stain anything under it. The main issue for us was that it is made from Malaysian rainforrest. Just couldn't go there. Apparently treated pine won't last as long as good hardwood, but I'm definitely not a decking expert so don't quote me on that. We wound up going with spotted gum instead, which was a bit more pricey but not astronomical. We've been really happy with it so far.