Chiro,
Nice knife review (pound pup and all).
IMHO Micarta is still the material to beat. But, I'll accept that you can build a good working cord wrap handle with plenty of eye appeal. After all, most traditional Japanese swords and knives did use some form of wraped handle. The limitations, at least on the examples I have picked up are:
1) The cord is more likely to work itself loose (than other handle materials). You need to be prepared to deal with this.
2) Depending on the type of cord used the feel at least to my hands can be either slippery (usually with paracord), or abrasive (with a rough braded cord)
3) The cord tends to absorb or pick up foreign materials. You need to make sure that the tang is well protected under the cord or it will rust.
4) You are limited with respect to the handle width by the width of the Tang and the diameter of the cord. Some of these knives have very small hilts.
5) Most cords have a very low melting point, so watch were you stand. I remember one fellow camper who decided set up a folding beach chair and take a nap just a little too close to our camp fire (canoe camping what else?) Over the course of the next hour we watch in amazement as the chair straps slowly streched and gently deposited our clueless napper on the ground. (we still give him $hit, wish we had it on video
)
Just my $0.02