I've done it both ways .... and the bead and cove saves many, many, many hours of sanding. With the bead and cove the strips fit so well, they almost snap into place.

I had a router and a few cheap bits that came with it. I used a dremel tool to 'make' the bead and cove bits. They worked fine. Since then, I have purchased a set, used them, offered them on this board for rent and they are now in California doing their job.

If you do not want to bead and cove, the alternative is a four letter word TIME. It will take TIME to bevel each strip, especially soince this is your first go around. It will take TIME to fit the strips and try to get them lined up. It will take TIME to sand, sand, sand, sand (did I mention sand?) the hull to fair it because there is no way the strips will line up to make a fair hull. It will take even longer sanding the inside once you take it off the forms.

So, if you do not mind the extra time (on the one I did I had all winter), you do not need bead and cove. Someone mentioned $30 for a plane, $40 and you have a set of bits (assuming you already have or have access to a router), or find someone who will rent them to you (I rented mine for the price of postage). or better yet let you borrow them.