Steve,

Both will work, but I like the idea of bead and cove much better. I must admit that pushing a very sharp plane is a pleasant experience, but I don't think it's the best way to strip a hull.

B&C advantages:
Strip edges automatically align between the stations.
Increased glue surface area.
Stronger joints between strips.
Easier and faster to apply glue in a coved edge.
All strips are the same width.

B&C disadvantages:
Time and effort spent milling the B&C.*

Rolling bevel advantages:
No need to mill B&C.

Rolling bevel disadvantages:
Strip edges don't always align between stations; you'll end up using a variety of methods to keep the edges aligned.
Learning curve required to do a good rolling bevel.
Less glue surface area, even with a perfect bevel.
Gaps (that will need to filled later) between the strips from less than perfect bevels.
Weaker joints between strips.
Messier application of glue between strips.
Strip width may vary if you bevel past the outside corner of a strip edge.

*I think that the time spent setting up a router table and milling the B&C is much less than the combined time it takes to do rolling bevels on all the strips. Unless you are stripping a flat panel, all the strips will need a bevel...if you want a tight fit.

If you don't mind the time it takes to test fit - plane a bevel - test fit again - fine tune - etc. for each strip, then you might consider using rolling bevels. If you'd rather spend half a day to mill the B&C on your strips and then not worry about all the disavantages to beveling, then B&C is for you.

Good luck,

Pedro Almeida