I use drain sleeves (same as easyglas) to reinforce centering rings. I'll second that it does soak up tons of resin. It's cheap, so I use it for structural components, but the weight has too many downsides for putting on the tube. I stick to fiberglass there. It doesn't add quite as much strength as a couple wraps of 6 oz. fiberglass cloth.
FYI. You can buy a 4" x 100' drain sleeve for about $30. Same stuff.
Well I have two projects in mind a 4 inch that will need to make heavy and a 10 inch scratch build that will need to keep weight off the fork in the road