Of course you can. First though, unwarped plywood is pretty much impossible to find. The good news is that by the time you epoxy it to the fuselage sides and glue beam motor mounts, and F-1 and F-2 bulkhead to it as well as a wing, it pretty much straightens itself out. Banana fuselages are more the result of poor technique or using dissimlar weights of balsa for the sides. Heavy?, it seems that way but the actual doubler will be much smaller than the sheet you are buying and weight forward of the CG isn't always a bad thing.
As for 1/32 Ply, sure you can use it. I wouldn't bother with the balsa sandwich though. I routinely use 1/32 ply in smaller stunt ships but the Buccaneer is a pretty large plane. Also,the MVVS is a heavy engine albeit very smooth. If you do go this route, do a good job of fiberglassing the nose section to at least the high point of the wing.
A better option may be to use the construction technique that Randy Smith uses on his designs- a balsa/carbon fibre veil/balsa sandwich. That is, make the doubler out of 1/8' balsa, epoxy it to the fuselage side with a piece of CF veil inbetween. I have crash tested this method on more than one occassion and it is as strong or stronger than the more traditional plywood doubler technique. Some say that balsa also absorbs engine vibration better than plywood. It will result in a slightly wider fuselage but that can be tapered into a spinner so that its visual effect is minimal. A pic of my Buccaneer is attached for you inspiration...now Git Er Dun!
