Welding stainless to mild steel totally defeats the object, but it will weld with either stainless or mild steel consumables/rods/wire. It probably won't crack but it might. Metallurgically its not the right way to do it. Is it important?/does it matter? - thats your shout.
It either do it all in stainy or all in mild steel.
put it this way, if i was doing it i would use 304 stainless all round, weld it with 308 or if i couldn't get those rods 312. If in not bothered about it being structurally strong i wouldn't worry about mild to stainless but as you want as little chance of anything going wrong, use 1 material right through. And as you have more time on arc that would definitely be my choice, just practice on some similar sized scrap first