I have been asked a few times over the years about building stainless chambers, but I have also put it in the too hard basket.
Mostly because I believe they would crack due to work hardening like Firko stated, also its a stiffer material to start with which is what makes it harder to form into a chamber. I do build 4 stroke pipes from stainless which seem to last okay & it is preferable to purge (gas inside and sealed at one both ends of the pipe) the weld to achieve the best penetration to safely remove the outside weld to polish smooth.
Ti is a good material but I have had to weld a few Ti pipes that have cracked from fatigue, some of these nare not very old at all & some muffler bodies I have replaced with alloy for bugger all weight gain.
Their were some alloy chambers on Trials bikes in the mid nineties, Beta's I think. They seemed to last okay, but a trials bike doesn't get a work out like a MX bike does. Not sure if their are any alloy chambers still being built.
Mild steel sounds boring in this high tech world but it is very durable material for chambers