This has been asked before, but there wasn't much response. You can read my original reply here: http://projectguitar.ibforums.com/index.php?showtopic=29231.
I suspect brass is used simply for convenience. It's easy to machine, attractive, ages nicely, and it's fairly cheap and easy to obtain. The dimensions of the block wouldn't be critical as long as it's big enough to accept the posts. I doubt you would notice much difference in sustain, but I guess you never know until you try...
Thanks for the reply. Yes, I saw your post but I was hoping to get some ideas about the qualities different metals might bring to the party. One guy - a professional luthier who makes guitars for a living - said he thought putting a sustain block under the bridge would add a nasty mid-range tonality.
It's interesting, this; I thought it was a really cheap-ass way to go, too, but the same luthier tells me it was one of the methods Gibson themselves used in the early days. I'm pretty pleased with the guitar, which is a gold-top - I bought it sight unseen on eBay from a Japanese dealer, and it has the Gibson headstock shape and a long tenon neck joint. For around £400 including taxes and shipping it's definitely better than anything I'd pick up here for that price.