I use Iroko a fair bit for garden furniture but you mentioned principles.....
I have lived in Africa and Asia for many years and am quite familiar with the way timber is supposedly managed which is why I said "whatever anyone says.."
Iroko is cheap and therefore presumably plentiful at the moment - but it ain't managed in a sustainable way.
Chestnut (Castanea sativa - Pale brown to biscuit in colour, very similar to Oak, without the silver grain figure of Oak due to finer rays. Has an acidic character and tends to corrode metal when in contact in damp conditions. Can have blue-black staining after contact with iron/steel in moist conditions. Sapwood is liable to beetle attack, but heartwood is durable. Used for furniture turnery, cleft fencing, stakes and many other uses.)
Not a usual garden furniture wood but seems to survive wet conditions outside very well (Chestnut palings have supported the banks of a small stream in my garden for at least 8 years). I think you will have to phone around for it in sizes other than coppiced wood. Give Wests a call (
http://www.wlwest.co.uk/home/index.asp)