Hi Neil,
I too am an exponent of the 'Foam' building method as can be seen from some of my articles in MB mag. The best foam I have found is Blue Polyurethane foam and I order this from Balsa Cabin or Technology supplies. It is a very stable closed cell structure and originally used for insulating commercial freezers and fridge units in large supermarkets like Lidl, Sainsburys etc.
I use single part foaming Polyurethane glue from Screwfix (same as Gorilla but cheaper) to build up layers of foam.
This foam sands very easily to a nice fine finish by hand, do not try power sanders at the latter stages of shaping as the surface can get hot and it will tear patches out of the carving or leave darker, rock hard streaks.
This foam will also react with Fiberglass resins so some protection from the car body filler is essential. Epoxy resins are fine. I have used the PVA soaked paper tape method several times but now give the plug a few coats of Dulux Vinyl Matt emulsion which is easier and cheap. It can also be rubbed down carefully if you leave the emulsion to dry thoroughly, you can then go over it with car body filler to get your glass smooth finish before laying up the Master mould as normal.
Some of the yellowish roofing panels from builders merchants are OK but are more crumbly, though you can often find sizeable offcuts in skips. The Pink foam is OK too but not as dense as the blue which is now used a lot for CAD/CAM prototype product modelling and so on. (This was the subject I taught Engineering and Design students at Degree level before I retired)
I actually make the whole hulls out of the foam now, finishing them initially with nylon cloth or ladies tights and Epoxy resin or Ronseal Floor Varnish (PVA based). They are very light and unsinkable and will take quite a knock with little or no damage. Just carve out the locations for fixing the hardware.
I do not recommend foam masters for Vacuum forming though as the resins used for the finish coats will come away from the foam sub base if any excess heat, like in Vac forming is used.
Average time to carve a 30 inch hull is about an hour or so, so it is a very quick method.
Hope this helps..........Happy boating.
RON.