Toenailing through the baluster on the uphill side with a finishing nail gun should be quite sufficient. The plowed channel holds them laterally. If you wanted extra strength, you could add glue just before nailing.
16 or 18 gauge nails about 1 inch to 1 1/4 long should suffice. The hole will likely be nearly invisible.
Additionally, plowed railings usually come with a filler strip that is angle cut to sit between the balusters after they are attached. If you use the nailing gun (and glue if you wish) to attach those as well, they would further lock in the baluster.
This could be a DIY project, but it's pretty big. Anytime you start messing with support columns you can get yourself into a big project. But, that said, this is most likely doable.
You need to get the bottom of the post off the ground with some sort of concrete footing and replace the bottom (or all) of the post.
Basically, if you hired a contractor, he'd prop up the roof using doubled 2x8's on each side of the post. Then he'd either replace the whole post or cut off the post about 2 feet from the ground. He'd probably (based on code) also dig a hole and pour a concrete footing and then bolt the new post base back in. The size and depth of the footing can vary by local regs and the contractor's preference.
If it were me, I'd prop up the porch, take out a post, dig a hole (2 foot+, unless you are concerned about frost heave in which case 4 feet+), put in a sono tube up to about a foot above ground, fill it with concrete and put a new post in.
Based on local code, this would probably require a permit (but depends on where you are and the nerve of your contractor - personally, I'd do this myself without a permit...)
You reuse the metal bracket by embedding in the top of the new footing (sand it and paint it with rust proof paint), but you might not need it. Home Depot has lots of various bracket to attach vertical columns to footings. Also, google images is your friend on how this can look.
Best Answer
There is no reason you cannot mix Trex type boards/railings with wood products. Decks that use Trex type surfaces are usually framed with pressure treated lumber. If your balusters and other parts are not either pressure treated or regularly stained/sealed/painted, they will also deteriorate fairly quickly.
If you go ahead with Trex on wood, be sure to use coated screws meant for composites.
These have a special finish that resists corrosion and a special thread that grips composites well.
Some people use stainless steel, but I have heard reports of staining despite their "stainless" characteristics.