The fact that a relatively unknown-in-the-U.S. wood is inexpensive doesn't at all preclude it from being good tonally; it just means that Leo Fender couldn't buy it cheap in 1953. :hello2:
My understanding of paulownia is that it is very light but does have good tonal properties, like light swamp ash or poplar. I'd like to try one sometimes, as it's my opinion that light soldbodies are sniffing into semi-hollow tonal territory. Heavy parts = good tone for massive gain, light part = "woody" tone for clean. Warmoth isn't going to DIE if you buy a body elsewhere, you know. I suspect the success of the Squier pine-bodied Classic Vibe Telecasters may knock some people out of their Church of Leo fixations. Yes, I know Leo used first... paulownia is a major sniffer-trend right now, one of these years the gearheads may catch back on to practicing as a way to sound better. ohwhybother....
http://www.thegearpage.net/board/showthread.php?t=376975&highlight=Paulownia