I own both the P220 blue and P220ST. I love both guns, but the ST is my favorite and would not trade two P220's for it. Yes, the regular P220 is carbon steel slide and aluminum alloy frame, while the ST is all stainless. I'm no "steelologist" here, but I also think that the carbon steel maybe just a bit stronger than stainless, but the stainless is pretty damn strong in itself, and will not have any corrosion for you to worry about. As said, the way you care for your gun is the main thing, regardless of material construction. I just like and prefer the stainless to relieve me of my worries and paranoia of rust, and wiping the gun with every touch. But the barrel on the P220ST is made of blued carbon steel, so your worries of strength and lifespan is answered there. Only the slide, the magazines, and the frame is stainless.
When I purchased my P220, I wanted the ST that has been talked about but it was nowhere in the near future then. So I bought the blued P220 and loved it, only to regret a bit when the P220ST was out. So as soon as I had a chance with the right price, I bought it. Since you said weight is no issue, and durability is, the P220St is definitely the one to get. Another thing I found nicer about it over the aluminum frame is the gouging and smoothness of the sldie over the frame. Aluminum frames scratch and gouge easily. After 300 rounds, my blue P220 had gouges on the rails and was pretty annoying. The ST is very very smooth like hot knife through butter. It slides on its own just by the weight of it. Either gun is a great gun and purchase. The regular 220 feels better to hold, but the ST shoots much more accurate and better. You can read my P220ST range report thread to read more on it.