I take 'laminated wood bows' to mean 'no glass'. As-in all wooden tri-lams, bamboo backed bows and such. I have made them with flat, rift, and quarter sawn wood and have developed a preference for clear quarter sawn and rift sawn for the reasons Jamie mentioned, they're more stable and predictable, but I won't hesitate to use a good clear flat sawn piece if that seems to be its calling.
The 'fancy' looking flat sawn stuff, or pieces with less desirable growth ring ratios, I reserve for glass bows.
So, if it's good woodbow wood like osage, yew, hophornbeam, etc basically I try to get as many quarter and rift sawn pieces from a log as I can, but try to make as much use of the remaining pieces as possible.
If the tree species is better for glass bows, say like sassafras or cherry, I try to end up with a good balance of quarter and flat sawn pieces.... quarter sawn for the core, and flat sawn for the visible stuff under clear glass.