Like most things, wood arrow material choice is a compromise, with straightness, mass weight and durability being the main differences. They will all shoot well when well made and tuned to the bow. In general, the softwoods: spruce, cedar, fir and pine(hexpine), are lighter in weight and less durable than the hardwoods: ramin, birch, laminated birch, maple, hickory and ash. The softwoods are generally easier to straighten and maintain.
P.O. Cedar has been the wood standard since the hey days of the 40's, 50's , 60's and into the 70's. It makes fine arrow, is easy to work and was relatively cheap to obtain. It is also on the light side, probably the least durable and quality shafts, altho available, are getting tough to find. Spruce is a bit lighter on average but tougher and fir is heavier and tougher. Lodgepole pine is pretty much only available currently as Hexpine, a radially laminated product heavier and tougher than POC and a very good arrow wood also. Personally, I'm shooting Fir these days as I can easily get the weight, toughness and quality I need at a reasonable cost and IMO is a superior arrow wood.
The hardwoods definitely have their place. I have shot a bunch or ramin and lam birch over the years and won't hesitate to use it again.