I have a piece that I bought on a recent trip to the states and it didn't smell as fragrant as other pieces that I have had. I also assumed it had been cut for quite some time. I've had it before that smelled so good I kept it in the living room!

I say go for it. The price is pretty good for Spanish Cedar- especially in clear 8' lengths. If you are really that concerned with weight, get a lighter wood for the gunwales that you can get in long lengths. Then you don't have the scarf joints and you will have lightened the largest parts of the frame.

SOF's are light anyway. You can spare an extra 3 or 4 pounds for the frame.