Oh dear Lord, I hope this doesn't turn into an Etex/Devcon thing.
Here are some simple facts.
a. 16 lb foam is stronger than nearly any wood, let alone Balsa.
b. as these baits are impervious to water, they will not leak, split or lose balance.
c. All your castings will be more or less identical. The only variations will be the ones the builder put in them. (Intentional or otherwise. )
d. The speed which you can produce them is incredibly faster. Much of the rote, busy work is eliminated.
e. It feels more like a piece of hard maple, sounds like it too. It is nothing like the plastic lures you've seen.
Is it better than wood? That is a question the builder has to answer for himself. Chip, one of the best wood builders around, now makes most of his line out of "Other than wood materials." You can't spend 2 hours on a plug and make money at it. Some here spend much more than that. I don't sell my plugs, but I don't see why I should engage in all that "BUSY WORK", building a plug that a Bluefish will trash in one hookup.
Coleys and Cliffs work sure look saleable to me. What do you think?
It's relatively inexpensive to try (Unless you trash a $40 plug as a model! ) So check it out for yourself. I'm sure Coley will take any unused portion of the stuff if you're dissatisfied. JMHO