So, could you build an "M" class rocket w/o glassing the tube? Could you put a 54mm MMT into an Estes Big Daddy w/o glassing the tube?
Barry Lynch (owner of LOC/Precision) isn't fond of composites, and did his Level 3 without any.
At LDRS last year, we flew a Q motor with
zero structural composites -- all we used was a thin film of fiberglass over the pink foam nose. We ended up horribly overbuilding via other methods.
If you're going to get up close to Mach, then you either need small, aerodynamic fins, or they need to be fiberglassed. Either way, they need to be stout.
Avoid long, unsupported lengths of tubes, and you'd be surprised at the velocity you can get without any composites. The 3" BSD THOR I have does this a creative way -- the entire rocket is lined with couplers, creating a double wall. Much stronger than standard tube, without much additional weight, and it's easier (and cheaper!) than fiberglassing!
There is a tremendous misconception in this hobby of the "need" for composites. People were flying Ms for quite a while before the magic of composites really hit the hobby, and they were doing it without any problems. Bruce Lee got his Level 3 on Super Mario, a 7.5" rocket that's about 10' tall, that has
zero composites. He flew it several times afterward, as well. The death of it was when it landed in water, which destroyed the tubing.
Where composites are "needed," in my opinion, are on the high-performance flights. Most of the flights you see don't need them.
-Kevin