You don't absolutly need high quality wood to do anything. I was just giving you an example of how I would go about it. Other wood are just fine. It's been proven that you can put any kind of top-wood on a guitar (up to 1/4" thick) and it won't change the tonal qualities of the base wood. Example... You could have the best mahogany body ever... and top it with 1/8" to 1/4" of any wood you choose and the body will still resonate the way the base mahogany body would by itself. Truss rods aren't too complicated. The ones that I assume your strat has are just the same as other truss rods, they're just oriented differently than most other electric guitar truss rods. Since this is a kind of project guitar, don't be afraid to take it apart and experiment with adjusting the truss rod and such. Just remember a couple things. Whenever tightening the truss rod always loosen it a little first because sometimes people start cranking on it when it's already as tight as it will go and you can strip the nut or break it. Also, it doesn't take much to adjust them either. Try just quarter turns at a time. Once you get good you can sight the neck and know exactly how far you will need to turn the truss to get the relief just right. GOOD LUCK BRO!