I'd say, go for it. Sounds like you have a solid plan. I'm thinking about the possibilty of a canvas roof coated with epoxy resin and paint on the next trailer I build. How's that for a light weight idea?
I got to thinking about where to get canvas-fabric store-and if exterior paint would work as an adhesive for the fabric to adhere to the wood? I'm not to fond of using epoxy resin because the cost is rather prohibative at this point, and I'm spending most of my money on flying.
If paint wouldn't work, are there any other options to adhereing canvas to wood?
Also, I'd like to keep the texture of the fabric. IOW, not having a smooth finish.