Mike,
Do it! Do lots of research, and learn good composite technique. My fuselage 
has no wood in it at all. It is last-a-foam and fiberglass in free form curves. 
There is not a corner to be found. I can imagine balsa would make a great 
core, but do not think of it as structural in the manner of spruce (longerons 
and 
struts) but at a sculptural form for your layers of fiberglass.
Go ask Burt Rutan if foam and fiberglass will go into space. Yes it will take 
more time. Yes it will be rewarding. And yes you may be flamed for not 
building a KR as per plans. But there are some great experimental airplane 
builders 
on this site who each have built parts of what you propose. Learning from them 
is great fun. You probably have found these sites already, but it's a start.
http://www.dart-industries.com/index.php?option=content&task=view&id=65&Itemid
=89

http://www.visionaircraft.com/

http://www.cirrusdesign.com

Bob Polgreen
Nowthen MN

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