Yes there has been a number of tests done to compare the loading. New Zealand Forest Research at Rotorua have conducted testing on a number of wood products for a range of industries, the Fencing sector is one of them.
As I have stated, the loading is based on side impact as opposed to end to end compression strain. Bear in mind that loading is also tested with the veiw of longitivity as opposed to a one off test.
I will try and post the results from the tests that have been conducted. Just a side note - remember the people who started to point the posts are also the people who sell them and for obvious reasons they want you to use them for a number of applications - and they have not carried out subjective testing!