This paper develops a theoretical framework for the description and classification of small-amplitude waves with frequencies much less than the ion gyrofrequency, propagating in an ion-beam plasma system. In this respect, the results extend to the strongly magnetized regime the results obtained previously by Zank and McKenzie and applied by Greaves et al. to study wave propagation in such a system for frequencies in excess of the ion gyrofrequency but less than the electron plasma frequency. For completeness, the full wave equation governing an ion-beam plasma system for any strength of applied magnetic field is derived. In specializing to the strong-magnetic-field limit, we find that the class of refractive-index topologies (which characterize the kinematic properties of wave propagation) is less rich than in the un-magnetized case. After investigating the topology of the refractive-index surface and the phase-, ray- and group-velocity surfaces, we construct a CMA diagram appropriate to the strongly magnetized ion-beam plasma system. The temporal stability and spatial amplification of the slow ion-acoustic mode for frequencies less than the stationary ion plasma frequency is investigated. We show that a strong magnetic field normal to the drift direction of the ion beam stabilizes long-wavelength modes that would be unstable in the unmagnetized case.