When we estimate renovated my basement jobs, we chose to use metal studs for framing the walls.  My decision was based on measuring the pros and cons of both wood and metal studs.  Strength:  Wood is definitely the sturdier of the two materials Metal tends to be flimsy, but once the drywall is screwed to it, it is strong and rigid. However, metal would not be suitable for hanging cabinets or heavy mirrors.  Metal framing has no structural strength and can only be used for partition walls.

Convenience:  Metal wins here, hands down.  It is lighter than wood and since it is not a solid material, two metal studs only take up the space of one piece of lumber.  This makes for easier transporting.  Metal is cut using aviation snips, which means no sawdust.  However, gloves should be worn to protect the hands and care must be taken to clean up any small pieces that end up on the floor.

Cost:  At first glance, metal seems to be less expensive than wood.   However, electrical boxes for metal studs cost more, and plastic grommets are required for running standard electrical wires unless shielded BX cable is used.  Metal also requires screws for construction, and for attaching moldings.  Even if the initial cost of lumber is more than the metal studs, the additional costs involved in using the metal evens things out.

Forgiveness:  Make a mistake in measuring?  Stud not vertical?  Since metal studs are attached with screws removing and moving studs is simple.

Stability:  Wood is prone to twisting and warping; metal is not.  Wood also wicks moisture;  metal does not.  However, metal does rust, so a vapor barrier or sill gasket is still required between the bottom plate and the concrete floor.

Environmental Concerns:  Metal framing has sometimes been promoted as an environmentally friendly alternative to wood. However, both materials have their positive and negative points. Wood comes from trees, and cutting down trees is generally seen as bad for the environment. However, wood is a renewable resource and we are getting better at managing our forests. Wood scrap is biodegradable and smaller pieces can be composted, but it takes a while to wood to break down and most scrap ends up in the landfill anyway.  Metal is recyclable, and recycling is generally seen as good for the environment. However, the recycling process does generate a certain amount of pollution. Also, the ore has to be mined and refined to produce metal, and that negatively impacts the environment.  Basically, either material can be seen as better or worse for the environment than the other, depending on your point of view.

Fire Concerns:  Wood burns, metal does not.  A wall built with metal studs is virtually fireproof.

Having worked with both, We believe that one is not necessarily better than the other.  It basically comes down to personal preference.