There is another way to attach a halyard that is easy to undo and allows the sail to use the full hoist of the halyard. Here is a picture: knotless halyard attach
Here is a commercially made auto-inflating mast head float, Secumar. I've never used one of these or even seen one. I imagine it would be raised to the mast head using a continuous line halyard. It's also fairly expensive and it would have to be ordered from Germany. But it would have less windage than a solid float.
Spawn is a class 4 boat that finished 6 hours behind Randy Smyth's Nacra catamaran. It is a seriously fast boat and the guys who sail it really know what they are doing.
What type of plywood to use for small boat construction is a source of never ending debate in internet discussions. Personally, I wouldn't build a boat with anything other than name brand marine plywood. Joubert and Brynzeel are 2 very good manufacturers. I know that some low quality far eastern manufacturers stamp their plywood with 1088 but it's really meaningless. The reputation of the manufacturer is the important thing.