I'll second what Jay said.
Threads that go "why can't I use urethane/polyester/yellow glue/white glue/yada yada" are a staple on every boatbuilding site I'm familiar with.
The fact that those questions have to be asked is enough to convince me the can of epoxy in the my cabinet is/was/will be the best answer for gluing boats together. It does everything. The only downside is you have to have your brains engaged when you mix up a batch.
The non-epoxy glues are getting better all the time but I don't have the time to be a test bed for their claims.

: You could probably put your stems together with wallpaper paste and sheath
: them in glass and epoxy.

: Boatbuilders use methods that stand up to the marine environment and exposure
: to water and develop habits that adheir to a proven tradition of
: boatbuilding. Carpenters glue is just not a boatbuilding adhesive. Yes you
: can cheat and sheath anything in epoxy and glass.

: If you're going to put all that work in building a boat with good wood and
: your best craftsmanship, why use a glue other than epoxy since you already
: have it for the project and it's a proven waterproof adhesive and been
: tested for many years in the marine environment.

: Carpenters glues also creep and get soft with heat more so than epoxy. - like
: baking on a deck on a 100 degree day.