Pete, I've build several strippers and used the yellow carpenters glue with no problem......but its always encapusulated........the stuff is waterproof (as is polyurethane), but not recommended for below the waterline....

the advantage for strippers is that its much easier to handle than mixing and spreading a thin bead of epoxy for each of the strips.....but i agree with you that if you only have a couple of joints, and there is the possibility of prolonged exposure to moisture...just go with the epoxy.