Acoustic Guitar Construction

I've seen cloth tape / ribbon used as reinforcing strips in many older acoustics, while some use wood strips.

I'll be embarking on a 00 build soon, and am interested in using cloth strips for side reinforcement - any of you have specific thoughts or concerns or encouragement in heading that direction?

My thought is that the strips are there to limit longitudinal cracking / spread of such a crack if it were to occur - if the tapes can provide that protection, I'd prefer the lighter build.

KMG kits come with wood reinforcement strips for several reasons ---- they do the main job better (prevent cracks), look better and unitize the rim better. Taylor's top of the line models even have the wood reinforcement strips notched into the kerfing.
http://www.rtaylorguitars.com/Woods-Details-01.aspx
Minimizing sound-board weight is important a few grams +/- on the body will have zero affect.