Insulating with wood

I searched the forum, but nothing came up.
Is anyone insulating their HLT's with wood? The recent thread went through all sorts of foam, blankets, etc. but none of it is making me salivate. I have an idea for making a wooden insulation layer out of wooden slats. I have a source on scrap 2x4's that I could cut up and make into slats that would fit around the keg and I would hold it all together with wire to bind the outside. I may even drill through all the slats, and fish the wire through to make it really clean looking. I'm thinking that with a table saw, a drill press, and some free time, I could get this going, and have a durable, attractive HLT that holds temps.

Any ideas you want to toss around are welcome.

I'm simply speaking from what I've read, as I have not tried it but have been debating the same thing for a while. From what I've read, the wood doesn't have great insulating properties but I've seen a few places (not here but searching google) where people put a layer of insulation in between the kettle and the wood, using the wood more so just for decoration. They do look really neat, and it's still something I've debated but overall it sounds like even the insulation won't keep it from dropping a few degrees. Again, just what I've read but it's still been tempting me to try anyway

Soft wood has an R value of about 1.4 per inch, which is much much lower than say foam, and hard wood has an even lower R value of about .75. The thing is, it's heavy, therefore it has a thermal mass. So it will not only insulate (a little), it will hold heat better than other insulators (as it's heavy).
I wouldn't suggest using it, but if done right it could work out well, you would just need to give it some time to heat up before using it.

Thanks DrJ.
I intend to make something that will be about 1 1/2" thick, and I may use a spray foam or some other stuff to seal any cracks between the slats. That would add some foam insulating power, and also stop any air creeping between the tun and the insulation. I know any kind of air circulation is robbing heat away from the system. Some insulation is better than nothing, and seeing as this could end up being free (except for the effort) I'm going to draw up some ideas and see where it goes. My brewstand is wood, and this could look super sweet if it matched.

Here's a great description of how it's done

http://www.beerbrewingchronicles.com/Site/Insulation.html