I have used both steel and braid and both have their advantages and disadvantages. Steel does get metal fatigue especially in the last 10 or 20 feet before the ball and at crimp conectors so it is not a bad idea to cut off 10 or 20 feet every so often off and redo the conection points. If you break a strand you will be cutting off to that point also. If you are breaking a number of strands at different locations, its time for new cable. If you want to increase the life span of the cable use tuna cord and a snubber before the ball. That system will also act as an auto stop so you will not need to put stops of any kind on the cable as they all weaken the cable at the point they are installed. No stops on the cable its-self increases the life span of the cable. Finally do not use balls heavier than you need for the specific conditions. If we are catching chinook at 20 to 50 feet, a 12lb ball will do the job and puts a lot less stress on your cable and terminal gear. If we are fishing deep in heavy current or stacking, we go heavier but that extra weight and drag also wears out your cable and terminal tackle faster. We just replaced the cable on one rigger with new Scotty brand cable and it was $50.00. and balls are now apparently made of gold. Inflation is hammering fishing costs like everything else.
Something to consider is that braid also will break off after a fair bit of use and unlike steel cable has not given us any warning it is getting ready to let go. Cable will sometimes let you know there is a problem with it that needs attention such as a broken strand, before it breaks off.