Also I've discovered an interesting DIY article on waterproofing wood, as long as the finish doesn't have to be anything in particular. The article is here, but in short this guy goes through various dilutions of a acetone fiberglass resin solution, starting with a 50-50 mixture and working his way up. He says that it allows for the waterproofing to soak into the wood deeper and leaves almost no tactile coating on the wood, but outperforms even name brand sealers. This process is a little more extensive that it would be just to seal the wood pieces the convectional way, but I think it might yield a better product, I might even paint the pieces afterwords who knows.
Also I cheaped out on the wood, Jim Heter calls for 9 ply 1/2 inch baltic birch plywood, but I bought 7 because it was substantially cheaper due to the fact I could purchase it in a smaller quantity. At the time, I didn't realize how big of a difference there is between the two types of plywood, I figured that it wouldn't make much of a difference. Anyway, my point is that I'm hoping that this firberglass resin might even minutely increase the strength of the boat.
P.S. anyone taking on this project, I would really recommend using 9 ply baltic birch instead of 7 ply. Unless you absolutely can't help it, get the 9 ply. So far is seems that the 7 ply I bought will suffice, but likely only just. The 7 ply has many voids in it, in comparison to the 9 ply stuff.