My question: Does a painted hull allow for time or cost savings in stripping?

I was thinking that it might permit:
1. Using strips without a bead and cove
2. Using wider strips (1.5 inch) on relatively flat sections of the hull
3. Using a different filler since matching the appearance to the wood is not an issue.

Out of the forty-somthing (?!?) kayaks and canoes I've built, I figure more than half of them are painted. Some thoughts:

1. TIME: Yes. You should definitely save some time by painting your hull. You don't have to be as fussy matching strips for color or pattern. The end joints can be a bit looser. Load the end with staples. No one will see the holes. You can stop at a lower grit sandpaper also. So what if you have swirls in your wood or fiberglass? Remember IF you finish the interior bright (ie varnished) you WILL see the wood.
2. MONEY: Perhaps. You could save some cash by using lower grade lumber. It should still be fairly knot-free for bending, strength and sanding.
3. Definitely do not use bead and cove. Like Jay said it's not advocated any more. It came from the days of building canoes and other small boats. At most use rolling bevels. I often build my painted boats with square edges (related to Björn Thomasson's method: http://www.thomassondesign.com/en/building/building-manual/hull-and-deck). Instead of post gluing them like Björn states, I edge glue them together during stripping. After removing the staples, I rough sand the hull to P60. Then I fill the small resulting "v's" with thickened epoxy. Finish sand and fiberglass.
4. Use as wide a strip as needed to conform to the curves. You still have to approximate a curved shape. On flat sections you can use strips as wide as you want. One one stripper I had 1-1/2" wide boards on a flat section adjacent to 1/4" ones to transition around a sharp transition.
5. Painted hulls are easier to maintain. White hides scratches especially well. Black isn't bad either. Tint your epoxy fill coats a similar color to your final paint. Scratches in the epoxy will be even harder to see.
6. Fully painted kayaks allow to get on the water quicker. Seriously. You'll have a lot less questions to answer if people at the launch don't realize you have a wooden kayak! ;)

Downsides:
1. Bad habits. If this is your first stripper you might learn some bad habits along the way that may be hard to break (ie not getting tight end joints).
2. More time prepping for the finish may be required. A painted, monotone high gloss surface will show every ripple, divot, or other flaw in the surface. If you just want to get on the water and don't care what if every flaw removed, a painted finish will be quicker.

I think I hybrid look (painted hull and a bright deck) looks awesome. For the deck, take your time and spend your money on good lumber. Show off your woodworking where it'll be seen.

Fully painted kayaks can be pretty fun too: