Sum,
I guess that I'll just be opposite here as I would not use the.050 I would go with the .063. It is MUCH easier to weld and as for forming the stuff is so soft that you can make it go almost any where! and if you are doing any kind of forming that requires some stretching you have more material with the .063, and remember planishing and wheeling are forming methods that stretch the metal so each of them will make the material thinner. The .050 is just to flimsey, any panel that doesn't have some crown or shape to it will be real hard to keep flat without a bead or bend put in it and then when you go to weld it, it will be to thin and a real pain in the ass to weld. I don't think that the weight is a consideration but the cost will go up around 8%. Buying extra is a great idea as you will certainly use it and you will also have things like airboxes and bulk heads that you will need to fab, and bulk heads/firewalls are required to be .060.
You might also think about learning to gas weld aluminum. It is easier with the special blue welding goggles but it is not real hard and it will make a weld that is very easy to planish and make flat and it has a minmum weld build up so you have less to file off. Also you probably want to get 1100 welding rod as it is easier to file off. Make sure that you have several good vixon files ( we always called them "hungry" files, as if they bit you it was bloody!) as these are what are best to knock the weld down. Like wise on TIG welds that you can get to the back of you should back weld to make the weld strong, do this before you file the bead and planish.
Have fun. I am also planning to do my body out of aluminum and I figure by the time I'm done I will have learned alot about it and I am sure you will too!!
Rex