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Another two cents worth....
I agree that all things being equal, a balsa cored hull is stronger pound for pound than an uncored hull.. as long as there has been no water intrusion. If there is any area that water may be allowed to enter and come in contact with the balsa that area will be prone to wood rot and subsequent weakening, delamination, or in the extreme, hull failure.
Flexing of a solid glass hull can be reduced or eliminated through proper design of structural members that support the hull (bulkheads, stringers, etc.).
My surveyor reminded me of what I already knew. The disadvantages and potential for significant structual problems of a balsa cored hull far outweigh the advantages of strength and insulation.
The issue of having a core of synthetic material may be another issue worthy of discussion, however.