Just chiming in with a bit of stuff.
First of all their is one large fallacy with this. youre expecting wood of the species to be more or less the same. Fact is that there is often quite as much variation of the physical properties of wood inside the species as there is between species. In hardwoods things such as density, hardness and stiffness are known to vary upwards of 50 percent in some cases.
This means that in order for this to work in any practical way a manufacturer would have to measure every single piece of wood entering his shop. There is to my knowledge only a single one who does it, a manufacturer of acoustic guitars (cant quite remember the name), that measure every single top piece in order to sort the wood and decide on top thickness and bracing.
In order for this to work in solid body guitar building you do not need to measure wood species to find their ¨sound¨, thats obsolete. People already know that, through listening. What would be useful would be constructing a mathematical algoritm that could, from a series of standardized tests, measurements on stiffness, shear strength, weight, hardness, grain structure, and from those data and a standardized guitar model (as engineering for obvious reasons affect resonance) predict how a guitar made from say 3 pieces of wood (body, neck, fretboard) would vary in frequency response from industry standards. And another algoritm that could mate the wood blanks in the companys possession to each other in order to produce a consistent result.
This would require (for reasons already discussed, the problems of objective testing, etc), an incredible amount of work, and huge knowledge of the physics of sound, as well as great knowledgs of computer programming.
And since the worlds fine luthiers can practically get there by ear (they tap wood for a reason), and Fender (who has the funds), doesnt care, cause it wouldnt, in all probability, sell them any more guitars, nobody has done it yet.
There is however a SIMPLIFIED way of, from basic mathematics, predicting the sound of certain woods from mean averages of the species physical attributes. Ill use maple and mahogany as an example:
Mahogany (swietenia mahagoni or macrophylla, replacement mahoganies tend to have VERY different physical properties) has a density of approx. 650kg/m3, and maple (acer saccharum, rock maple) one of approx 700kg/m3.
now we can just look at stiffness and hardness. Maples bending strength is approx. 1.25 times again as strong as mahogany, while only weighing less than a tenth more. the result is lower damping of the soundwaves, which in theory at least means retaining more highend. but because it is stronger and heavier sound waves also have a harder time moving the wood. anybody knowing anything about speakers know that high end need significantly less energy, and membrane movement to reproduce high spl levels, and i think this might account for a slimming down of the lows and mids in maple compared with mahogany, lending a ¨tighter¨ sound. the highs will be more pronounced, as the lows are allowed less movement. to me this makes sense anyways xD this would also account for heavier woods being ¨tighter¨ and lighter woods being ¨fuller.
also maple is much harder than mahogany, which again seems to lend more brightness, i have no explanation on that count though. its just an observation.
so what can we use this for ? this method is at its optimum when used for scouting out new woods, or making qualified guesses at how things will sound depending on the woods used in them. poplar? you can find out that its lightweight, very stiff, and quite hard. Should make for a slightly brighter guitar than an alder blank, but still full sounding. Basswood, stiff, light, but quite soft, expect a rolled off highend compared with alder, but a fuller midrange because its stiffer and lighter.
the only true measure is of course to listen, but thisll maybe help every time you see a piece of wood youve never heard about being used before in lutherie. go check wood database. oh ok. these and these physical characteristics are similar to ash, but this is different, and should have approx. this effect.
youll also quickly notice that Alder, Maple, Ash, Mahogany and rosewoods arent really very special. there are tons and tons of woods that have basically the same physical properties, that we might as well use. there are however some woods to watch out for, that have characteristics quite uncommon:
Port Orford Cedar - its light, incredibly strong, and quite hard. Maybe the most resonant wood in the world.
Sitka spruce - bodies really should be made in this, it strong, lightweight and hard. and i think some guitar players may have noticed that already.
Douglas Fir - basically ash but much more resonant.
African Blackwood - ridiculously hard, but very high damping, and very heavy, its used mostly in classical guitars, where it lends incredible fundamental clarity. it is absurdly resonant for a wood that dense (trust me, i have a fretboard blank lieing around i just tap for the heck of it. its impressive).
Wamara and Katalox - to woods closely related that are hugely stiff, while being very heavy. Something very rare among woods. They have all the characteristics of a good acoustic soundboard while being heavier than water. of course the resulting soundboard would have to be 0.6mm thick, so itd probably warp, but it may have uses.
Arctic Birch - a lighter, stiffer, slightly less hard variant of maple, should be a bit fuller, probably not losing much in high end.
Mountain Ash - actually eucalyptus in nature, this tasmanian wood has some incredible claims made about sound speed in it (5600m/s), where a normal hardwood is around 3900m/s. this translates directly into resonance, so if its true its worth enquiring about.
ill just stop here, the post is already ridiculously long, but i hope some people may have found a useful tool in comparing the acoustic properties of different woods.
last tip. Think about loudspeakers. youll want infinate strength, and infinately low weight. go for that. and sometimes... Mahogany... youll want as far from that as possible for personal reasons. Go figure.
cheers.