It really depends on what you plan to do or expect from your barrel and how much money you have. Our group has barrels from Steen, South Bend, and Hern. All three are cast iron with 1/2" thick steel liners & breech plugs, the difference in construction & price (which is considerable!!) is how they are made.
Both Steen & South Bend are cast over sized and solid, lathe turned and bored, with a smooth or rifled liner installed as specified by the buyer. Steen will sell you a smooth or rifled barrel alone, South Bend will only sell you a smoothbore alone, their rifled barrels must be purchased with a PBO carriage. They are both top notch, but very pricey running $8,000 on up.
Hern are cast around the steel liner to close to exact final dimensions with no machining. Trunnions will not be perfectly round, the overall exterior finish is as cast, and sold with no vent. Once you drill a vent the liability of firing the piece is on you and not the maker (you must sign a wavier to this effect). With a lot finishing work they can be made to look very nice and are great for reenacting with blanks. Some people shoot them live, but organized shooting events have been known to exclude them from shooting, or restrict them to using small reduced loads. They run about $1,500. They are a great deal as long as you know what you are getting and use it appropriately.
Steen & South Bend can handle original full service loads and you know the bore will be perfectly centered.
A properly made steel tube would be ideal and super strong, but only if it is made properly! I have read horror stories about improperly made steel barrels. Remember, you get what you pay for...
Anthony