Guys, Thanks for all the awesome input! I didn't expect so much so quickly.
I thought my original post was getting long, so I omitted some details I thought might distract from the question. Here is some more detail that I see now is relevant to some of the comments and questions you brought up.
In regards to the overall main objective of the project, it may have been unclear in the original post, since I was focusing on the wall detail only. What prompted the decision to remodel was a desire for a house layout that faces south, which also happens to have the best view at our place. An increase in efficiency would be a nice benefit, but is not the main objective. I am actually somewhat surprised at how efficient our house already was with R13 walls and R19 attic, but it's also small. Part of the remodel is an addition. The house will go from 20x30 to 20x50. My original plan was to gut the ceilings and interior walls (done), try to pull the bowing walls in, and add rafter ties. I also would have had to sort of build the rafters into trusses in-place in order to be able to remove some load bearing walls to change the layout. Once gutted, I got a better look at the condition of the rafters and sheathing and decided to go with new trusses over the existing part of the house, and then they can continue nice and straight into the addition with the same roof line. This would also make it easier to straighten the walls. And to give an idea, when I say the walls are bowed out, in the worst spot, they are bowed out about 1.25" per side, so about 2.5" from side to side. The decision to replace the entire roof structure only adds about $3,000 of materials cost to the project since the roofing needs replaced anyway.
I did not have a structural engineer involved, but I do have a BSME, and have some decent experience with buildings and additions, but nowhere near on par with the pros. I have a builder/carpenter/woodworker/licensed plumber/etc mentor with 30 years experience who has been mentoring me through some of this, and I do have a lot of confidence in his advise. That being said, from a structural standpoint, once we get the roof off and walls straight, there's not much funny business going on, just 20' span trusses designed for 24" on center for the loads in our area, sitting on the old 2x4 walls. As Papa Bear said, it's basically a 3 car garage. However, it does have a full basement with block walls, so the exterior walls are sitting on the subfloor, sitting on the joists, etc. Doubled walls would also sit on the subfloor.
If I still choose to go with a doubled wall, my intention is that the new innermost walls would be the service cavities. There is electric but no plumbing or venting in the exterior walls, and since the house layout is changing, I'll be reworking most of the electric anyway. In regards to the complexity of adding interior walls, my house is pretty darn basic. The walls in question would have a total of 2 doors and 4 windows to work around, and electrical to add.
In our area, we can do all our own plumbing and electrical. You just have to pay your $20 for a building permit, and you're ready to rock. And that's inside the city limit, where I am. Outside the city limit, seems like just about the only thing you need a permit for is a septic system. This sounds crazy if you don't live in an area like this. It's nice for DIY'ers that do things properly. It's bad in that you end up with some junky places scattered about.
I agree that strictly from an investment standpoint, this is not an optimal investment. However, the house will be worth more than the total of original purchase price and materials for the renovation, which all added up is still way less than your average house. If you include my labor, that's probably another story, but the challenge and learning is fun too. We hope to end up with a place we really like, and it's all paid for. I'm entering a phase where I still can't help but consider if something is an optimal investment, but in occasional cases, like this one, we decide the trade-off is worth being less-than-optimal. I think I am getting relatively close to semi-retirement, but not sure when I'll really be confident enough to draw the line. I guess you could say my wife has been for about a year, from managing a corporate store to working PT as a bartender at a local brewery. It's all good.
Thanks so much for the help so far!