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