I'm generally in favor of replacing canvas with canvas and removing most owner-applied fiberglassing jobs and replacing them with canvas, but some of the above info is a bit sketchy.
The problems and deterioration that have been assigned to fiberglassed rib and plank canoes aren't as much problems with the glass itself as they are with the application. Fiberglassing one of these hulls is a tricky job (much more so than glassing the outside of a strip canoe) and very few of them are done properly or even with the proper materials, often resulting in eventual problems that can be quite serious. If you're buying a fiberglassed canoe and it was glassed by the owner, there seems to be about a 95% chance that it wasn't done very well and should come off and be replaced with canvas.
You most certainly don't need to make the interior "plastic as well" for one of these fiberglassed boats to have a long and useful life. That's just not true. You do need to avoid situations where it sits for extended periods with water inside of it (which is also a pretty darned good idea with a canvas-covered hull as well, as water-soaking lifts varnish and damages the wood). You also want to avoid rocky situations where you might crack planks or break ribs, as replacing them is a lot tougher when you can't pop off the cover to fix them.
I'd really like to see people back off on the whole "wood breathability" thing, because most of it is bunk. It's a double-edged sword at best. The unsealed back sides of the ribs and planks on a wood/canvas canoe are constantly soaking up water and then drying out. On a fence post, we would call this "weathering" and its long term effect is to severely dry out the wood, making it measurably lighter, substantially more brittle and actually shrinking it dimensionally. We've all seen plenty of this on old wooden canoe bodies where big gaps have formed between the planks. Folks think that they can take one of these dried-out hulls, dunk it in a swimming pool for a week or so and everything will get rehydrated and be hunky-dory. In reality, it's just not going to happen and what effect it does have will be short-lived.
A proper epoxy/fiberglass job will actually seal the back sides of the wood better than any other material you can put on it, followed by tar. As long as you maintain the varnished interior well, so that it's not a constant water entry point, the canoe will be less likely to pick up weathering moisture and/or lose the natural moisture and resilience that it comes with over time because you've stopped the soaking/drying/soaking /drying cycles that aren't very good for any piece of wood, especially one with a fancy varnish job on the other side. Rot needs three ingredients to happen: Food (that's the wood fiber and we obviously can't get rid of it) reasonably warm temperatures (provided by mother nature) and moisture. The only one of these that we have much chance of eliminating (or at least controlling) is moisture.
Wood/canvas canoes rely heavily on the natural moisture and rot resistance of the cedar parts to survive this and do it pretty well. Some folks even soak the cedar outside with linseed oil to enhance these properties, though certain studies from the Forest Products Lab have indicated that it just adds more food to the mix. On the other hand, a fiberglassed canoe where bad materials, lack of care or poor workmanshp are trapping moisture pockets against the wood due to delamination, breaks in the skin, etc. can be a veritable rot factory. Thus, it's absolutely critical that the fiberglassing job use premium boatbuilding resins and materials and be well above the typical backyard builder skill level if it's going to last. As far as I can tell though, there aren't any rot-proof wooden canoes out there of any construction and it's much more a matter of how you take care of it than what's covering it. Be advised though, that most non-factory fiberglassing jobs should be removed and it's not a fun job. Even some factory glassing may have some problems and when it comes down to fixing it up and getting back in good shape, canvas is nearly always going to be your best bet.
This is my 38 year-old 16' Old Town guide. The exterior skin is one and a half layers of six-ounce fiberglass and WEST epoxy resin. If anyone can tell me when I can expect it to self-destruct, I'm all ears. At the moment though, it seems to be aging more gracefully than I am.