Here is a great pictorial on the building of a small timber framed cottage (12' x 16"!)
http://www.taunton.com/finehomebuilding/pages/h00153.asp
Shows the fine woodworking skills needed - and notice how social an event it is! (This will also show you why stud framing replaced timber framing about 150 years ago!)
Faux timber framing, with the joints and timbers laminated from 2-by- wood sounds like a fine idea.
although it sounds like fun to do--with all those people around.
Now tha looks like a lot of work. Norm Abrams could have done the entire building with a bucket full of biscuits. ;)