Haven't used bamboo, but I have built and entire Odd-Roc from a single Cornstalk. body and nose cone are hollowed out and CA inside coated. Used the root system for Drag stability and a couple pieces of root for the launch lugs. Flys on a A3-4t or A10-3T. 12" mylar chute.

It is truely a fun flier

I'm sure the bamboo would work well for the body and nose, I'm not sure what bamboo's root system looks like.
Good Grief styeme: Have you seen those phenolic hpr tubes that guy's stand on between a couple chairs? Bamboo meets all standards as a MR construction material. While I haven't done a study I'd be willing to bet the SM and crumple stats for a 4 to 6" piece of natural bamboo would be lower than that of a 4 or 6" piece of sonatube or any of the phenolic heavy wall tube sold as "airframes" everywhere.