often misunderstood fact about wood: it only rots quickly when allowed to alternate between wet and dry. wood that is always wet will last many, many times longer than wood that is allowed to weather. same with very very dry wood.
case in point, divers are harvesting logs that were logged around the turn of the last century and sank to the bottoms of waterways on their way to the mill. these logs are highly valued because they are old growth forest logs of which there aren't many (any they are allowed to log) left. the logs are in pristine and well preserved condition. the old growth grain is beautiful and sought after for expensive furniture, veneers, etc. even common woods like oak and hickory do not look the same now as they did "back in the day".
that said, i'm in the floating dock camp. easy to move around if you want, easy to drag out to do maintenance, moves up and down with the level of the water, hey, you can even pole it out to the middle for a fishing platform if you make it quick disconnect.
common floats are styrofoam (closed cell) or some kind of plastic or metal barrels that hold air and won't leak. if you want to minimize maintenance, don't use wood above the water line as it will rot very quickly in a wet/dry environment. also, keep the center of gravity low so it won't be tippy.
amp