barkerw, I was in the same situation... the SIPS would've ballooned the cost of our project into kazzillions...
I agree with Tim, anything structural on the outside of the TF is redundant...and with SIPS you're paying a hefty premium for redundancy. I found the REMOTE to be the most cost effective way of enclosing our frame. It could be made even more attractive by framing the 2x walls 24"oc (our PEng wanted 16"oc) and if you have a mill, you could mill the 2x material on site. Foam is cheap if you go to the manufacturer or their direct distributor. It only gets expensive on retail level.
BTW Tim, how is the plank house coming along? I remember you had THE best way of enclosing with foam using planks, foam strapping...no nonsense