I have long savored the satisfaction of building refined wood car kits (Ambroid, Northeastern, Weaver, Suncoast, etc.), and the very best glue to use these days is white glue, either the fancy kind such as Canopy Cement or Microscale MicroClear, or the cheapest kind such as Elmer's or a clone. These glues are forgiving, hold up very well, and are easily cleaned up with water alone. The latter is a special advantage inasmuch as the slower set up allows the builder to completely clean/soak up spills or squeeze-outs with damp or wet Q- tips, pipe cleaners, etc.
All the white glues are "water-resistant". What this means is that ultimately the set-up glue will always be water soluble, but it will always take some time to be so- a circumstance that in practicality makes this feature a moot issue in the building of wood kits that will not ordinarily be immersed in water, or will not be residing in a Turkish bath.
To avoid allowing glue (any kind) spills or squeeze outs from soaking into the wood before they can be sponged away, all the wood should be first sealed, most easily with a very fine sanding sealer (still available at R-C hobby sources= "Hot Fuel Proof"). Such sealers are essentially clear lacquer loaded with pumice or talc. If this very important preliminary step is performed, the kit builder has a clear road ahead in creating extremely clean and sharp glue joints free of glue, or glue effects outside the joint itself.
Of course, this preliminary sealing of all the wood is also what ultimately will make the difference between a model that can be quite outstanding, versus one that can be beautifully built, but which will never be able to be satisfactorily painted.
I also have models built years ago with Ambroid cement. This holds up well, but most models built with it are spoiled because the glue was so difficult to clean up, AND the glue soaked right in to wood that was never sealed. I have salvaged one model by soaking it in an acetone bath, which quite effectively "re-kitted" the completed model.
Denny
Denny S. Anspach MD
Sacramento