Wow. Just plain Wow.
Very cool. I have been thinking recently very hard about making a car out of wood (but mine would be more locost-y... this is GRM right?) using 'stitch and glue' boat building techniques.
Technically I would end up with wood and fiberglass composite, but I think it would be totally cool.
There was a buzz about that car some years ago, but the last entry on the build blog was from 2008. I wonder if there's been progress since then or if the WSJ is just really slow on reporting the news. 
It also has wooden wheels and wooden leaf springs 
who wants to try driving it first? 
Looks good though. I can see definite influences from other supercars on different parts of the car: Ford GT90 concept on the sides, Isdera Commendatore on the top, Pagani Zonda at the back, and the big slab-like wedge nose looks like either a Bugatti EB110 or a Vector W8, not sure which.
BTW it is finished now. Found this X-ray drawing looking for pics of it. Seems to also have wooden suspension arms, and the wooden transverse leaf spring also acts as the upper arms.
Edit: Actually looks like the transverse leaf sits above the upper arms, so it's basically like a Corvette's rear suspension.
I hope his termite bond is paid up.
<-- boat builder guy
http://www.locostusa.com/forums/viewtopic.php?f=39&t=17162&hilit=wood+chassis
I'm fairly certain you could make an effective monocoque with Okoume plywood, epoxy, and your choice of matrix (fiberglass, carbon, kevlar). Wood is a fantastic core for composite construction, hard to beat with foam or honeycomb in complex loading conditions. Balsa is very effective for panels.
Modern F1 racing tunnels were still made with plywood well after foams, vacuum, and infusion were available.
A car suspension does generate some point loads that you'd have to be pretty careful about. And the resins have temperature limitations. And you need to be real careful about water.
In the end steel space frames aren't that hard to make and avoid a lot of the problems with wood, assuming your welding is up to par.
Looks flammable.
In reply to MattGent:
Marcos did just that in the 1960s.
The general idea has merrit. DeHaviland built the Mosquito out of plywood and balsa-cored sandwhich panels, and it was so light and strong that it could out-G and out-turn the FW-190 at any airspeed. Why NOT attempt a car with a plywood-skin/balsa-core monocoque structure? The only real downside I can see would be if the car took a hit hard enough to crack the monocoque it would not be repairable, i.e. totaled. But, it would be very light and super stiff.
In reply to WildScotsRacing:
You got wood, monocoque, and stiff into a post...well played
In reply to Raze:
What? Doesn't everyone want a wood stiff monocoque???
I forgot about this project.
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