winter project, insight requested

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so, first the full disclosure: my winter project is not a seacraft. i have been looking for a wooden boat rebuild project for some time now. finally found one and when i started to tear it apart i realized it was a wash. the only thing salvagable is the frame and its cheaply built. i just bought myself a full sized template. the good news is the price was right ($50.00). boat is enclosed like a kayak but shaped more like a rowing skull (sp) so i may reconfigure it as a rowboat. i have never built a boat, but i do custom interior trim and cabinets so it shouldnt be too bad. i am listing "the plan." please poke holes in it and add any ideas that may be helpful. i know this site is for seacrafts but my seacraft is bulletproof and customized to the max, so i need something to keep me from channel surfing every night through the winter. thanks in advance.
1-build bottom out of marine ply (3/4)
2-build vertical bracing around entire boat(maple?)
3-build elevated "slat style" flooring in bottom of hull
4-build top bracing (the long way(maple)
5-wrap sides (1/4 mahogany plywood)
6-fill in top (1x4 mahogany)
7-varnish top, sides, and interior (epiphanes spar varnish)
8-fiberglass bottom

kind of a sucker for mahogany, could change the maple but i know its very hard. also, not dying to glass and paint the bottom but i want to make sure its fully waterproof. also, not sure if the 1/4" ply on the sides will be ok w/ just many many coats of spar varnish. like i said, ive never done this before, let the hole poking begin.