With inspiration from Bluebird, I've just completed the hull for a 1/12 scale Whaleback (63"). See his Masterclass. It's a hard chine design, double diagonal planked, limewood inner layer, mahogany outer. Not the fastest way to build a hull but incredibly rewarding. If I could find the way to reduce a .jpg file size from 2Mb to less than 500Kb I would post photos!
Planking gives great flexibility of hull shape because it allows a compound curve to be built in, unlike ply sheeting; plus of course a lot of the 1/1 scale boats were and are made this way. One drawback - unless you can cut your own planks, it is quite an expensive technique. I've thought of another too - the outer skin has to be held in place with pins while the glue dries. The end of my thumb is now in quite a state after pushing in something like 3000 pins.