Math wise, you can make two master items a session if you are making them with only wood, and buy the extra 2 days:
Make 1 master item: 6 days (if you take the day bonus in lieu of the component bonus)
(4 days left) (buy 2 bonus days, then get two bonus days for using only wood) (equals 8 days left)
Build one more master wood item!
So I think paul is right about us all doing a gathering cycle, then a building cycle. (In my case, an alchemy cycle, then a smith cycle)