[quote]I think Chris May, Martin Petersen, the people at Alembic, Fodera, Mike Tobias etc etc would probably argue that point.[/quote]
I think that's a very fair comment but, the two luthiers I've spoken to on the subject give the wood about a 10 to 15% influence on the 'tone' as a maximum.
So maybe it does have a small effect, and if you're shelling out for a custom instrument then 15% would be significant. When combined with wood mass, neck construction, pickups, strings and pre-amp it will become considerably significant.
Then going back to the argument that most punters don't know their 4 string P from their 6 string Yamaha it's only likely to be us who care anyway.
As I've said before, coffee table woods have their uses: