Mike makes some excellent points.

I can sharpen planes, have a lot of experience building stuff, using routers, etc....
My current (interminable) project is Nick's Mystery, I did cove & bead for the hull, started on the deck with it, didn't like it, and redid it using beveled edges. I'm a happy bevel edger for life.
My first build a Great Auk (6 years ago) was all cove & bead. My GAuk is a bit of a mess but has been very usable. Filler and glassing covers up many sins.
After comparing my humble work to all the great kayaks posted on this site I arrived at a general principle:

When building strip kayaks, patience trumps experience.

I slowed down and made a nicer deck than I would have otherwise. My recommendation (2 cents) would be to
1. Learn the Scary Sharp method of sharpening, (sand paper glued to 1/4" sheets of glass) it's easy and your planes and chisels will be wickedly sharp.
2. Start with beveling, take your time and see how it goes. (I'm more patient when I'm listening to an audio book on my iPod. I listed to 3 or 4 1000+ page Ken Follet novels while building the deck) It's easier to add cove n beads than it is to remove them. Actually it's not at all hard planning them out--but you'd lose a lot of wood.
3. if you don't like it give beveling a shot. You can switch back and forth as much as you want.

Warning: Whatever you decide to do, the other method will quickly seem better and easier. This is the grass is always greener.

If I had to estimate time. I'd say fussing with routers 20+ hours (and I'm never satisfied I got it right--and I think I'm very good with routers and router tables) The soft cedar is almost like rubber going through those cutters, it needs support right up to where it meets the cutters.
Bevel edge double the time for cove & bead. (If you were in a hurry you'd be building a plywood kayak)

Whatever you decide, just get it done, and go out get it wet and put some scratches on it.
And you've started right. Watching Nick's videos is like installing him in your head. He's got all the moves and watching a master at work is a terrific way to learn.

W