I'm still running iron heads with lots of work having been done to them which is where the cast iron heads can be a problem. I've always believed cast iron heads are a better bet for long life but with most having so many miles on them they require a lot of money to bring back up to snuff not to mention if your wanting to port them and add larger valves. It's common to need new valves, guides, valve job, springs, surfacing, cleaning, magnafluxed for cracks, etc $$$.
Aluminum heads have been used for decades now with no problems, originally they had head gasket issues but the gasket companies resolved that long ago. Aluminum heads offer benefits in getting rid of heat a lot faster making higher compression possible plus most are a significant improvement in performance.
If I had it to do again I would have bought aluminum heads given what it cost to do mine. I'd only consider cast iron if you had a really nice set that doesn't need much work.