The cob Ive seen does not have a high R value. In fact, most would not even meet the local code requirements. However, as most people on this site use wood to heat with, it might still be the best choice for your situation.
I agree with ronnie except for thin plastic sheeting having an R value of 1 or that an R value of 1 would make a difference.
Plastic sheeting doesnt really have any R value but it has long been used as an air barrier in very cold climates.
Stopping Air infiltration is MUCH more important than R value. I see some cob installs having this as an issue as well due to splits in the wood over time. Surely a cob expert can tell me Iam wrong on this or there is a technique to avoid it..
I think that it would be best for people to stick with DOE bare minimum R value levels. Found a cool link thats adustable based on heating/cooling source and ZIP code:
http://www.ornl.gov/sci/roofs+walls/insulation/ins_16.html