What look do you want?

Cedar can be stained(deck stain) or left to naturally weather to a grey color.

PT wood can also be stained or left natural and weather how ever it does--some lightens, some greys a bit.

PT wood is usually smoother than cedar.

Both take special fasteners.

Cedar is more natural, and less toxic, although PT does not have the arsenic and other nasties it used to.

Other issue is how damp parts of the fence get, although I'm not sure which would cope better - cedar, I suspect, since it's used as a roofing material.

Pressure treating is partially designed to be water resistant.

I built some wood fencing in my yard, well over 30
years ago, out of rough cut Hemlock, which was quite
inexpensive. Today it is as strong as ever.

Cedar fencing is the way to go. The panels will not shrink as compared to Pressure Treated Lumber. The finish in cedar is imaculate when stained natural which you can do immediately where pt material you must wait 1 year before staining. what is very important about every fence install is if nails are used they must be HDG grade. If using screws make sure the are ACQ rated. Your holes must be dug 6 inches below frost line and cemented. Put some clear gravel in each hole in the bottom before cement. Choosing a good quality stain is very important so that it also protects your wood. See our website gallary

Here is a link that might be useful: Muskoka Wood Decks & Fencing

Ground contact rated pressure treated lumber for the posts and cedar for the rest. If the post holes are deep enough there's a layer of gravel at the bottom for drainage and they are very well tamped in, there is no need for concrete. Many fencing companies, in fact, discourage the use of concrete because of its propensity for holding moisture and the fact that frost heaving is more likely to occur with it than without.

Depending on where you live concrete in sonar tubes is imperative. As well never allow any wood product treated or not to rest on concrete. Galvanized or stainless steel is placed as post holders into the concrete that the post rests on.

In many areas, having posts that are supported only by metal brackets at the bottom is not allowed unless the fence is attached to a structure, like a garage. If you look at the specs for Simpson Strong-Tie they say: "Post bases do not provide adequate resistance to prevent members from rotating about the base and therefore are not recommended for non top-supported installations (such as fences or unbraced carports)." In addition, in windy areas, fences that are only bottom-supported may not be able to meet wind-loading requirements.