Tom,
Actually, you were quite clear, I simply exhibited the far too common Usenet trait of not paying complete attention to what you said. It's been a really bad week...
I have seen what you describe... Similar to this fine bowl by Kevin Neeley, I assume:
I've never seen a 10" x 10" x 4" kiln fried butternut blank for sale, and at the price of wood these days, I'm not sure I want to. Same with Cherry, Maple, etc. When I turn large monolithic blanks, I generally use green wood collected myself. Being relatively poor, it's generally a requirement. :-|
As demonstrated by the above referenced bowl, not goofy at all. Expensive and time consuming perhaps, but looks good to me.
With dried woods and MC equalization, it should be doable, albeit at a price. I still worry about the differing expansion characteristics of the various parts. The large monolithic blank would expand greatly cross grain in one direction, but the segmented rings would expand to a lesser extent in all directions. I assume you would have to pay particular attention to the expansion percentages of the chosen woods, turn somewhat thin, and it might possibly require the use of veneer layers and a pliable glue to offset the tendency of the pieces to crack apart at the glue lines.
I'm certainly no expert, but that's my take on it all...
FWIW,
Greg G.