Simply put, yes, a laminated piece is stronger... but we should be careful how we word it. "A sum of its parts" is likely taken to mean something different than "same wood, same dimensions". The former puts me in mind of say, a trilam's three lams laid on top one another prior to glue up, which would bend MUCH easier than than they will after being glued together, and the latter puts me in mind of a board, which would show a difference, but less of one.
As far as building a recurve(or reflex) by sawing a kerf into the end of the limb, I've done it on backed bows and selfbows, and I really like the technique and results. I generally cut the kerf 10-12" deep, and fill the void with a parallel or tapered lam, depending on the limb action I want, but even the parallel lam helps strengthen its area relative to the remaining limb and it can be tillered to work while this now new 'trilam section' maintains its shape due to the effects of the two glue joints.