If two woods tap well separately, no, that does not mean they will combine well. Look at it this way. You could tap some hard maple that sounds good, then tap some ebony for a fretboard, and then some birdeyes maple for the neck. They may all tap great. But you're gunna end up with one BRIGHT guitar. Tapping is not a tell-all. It's a point in the right direction that that piece of wood is nice.
As for your sound transfer question. Yes, sound travels more effectively ALONG grain. This is why Uli Teuffel is convinced you need at least one section of nice, long, straight, uninterrupted grain in your designs. You can see this obviously in the birdfish, but it also shows itself in his other designs, especially the Tesla IMO. That said, this has little to do with quartersawn vs. flatsawn. In both cases you can have long, continuous grain. What I talked about with tapping quilted maple and plain maple illustrates this better. The quilt maple is just RIDDLED with runout (ie: lots of short, interrupted grain) while the plain is not. That is a better way to think of it.
THAT SAID, there are OTHER reasons to use quartered wood for acoustics. It's usually more dimensionally stable (and predictable when it does change with humidity), is less prone to warp with water (important for bending), etc. So yes, quartered wood I would say is better for acoustics, but it's not a question of sound transfer, more of structure.
Chris
Edit: The correct place to hold it is at it's vibrational nodes. These are places that remain relatively neutral when vibrating and therefore your fingers being there does little to inhibit vibration. You'll know when you're holding it in the right place However, a good place to start is at 1/3rd the length down, 1/3rd the width in.
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