Don - Uh, no - I was referring to the volume control on the theremin cello in the video linked to in the posting preceding mine. As the author, Inq, is a guitarist I figured he would understand what I meant if I referred to it as "the whammy bar." Sorry if that caused confusion.
Pitch bend would be superfluous on a theremin cello or other fingerboard synth, but some sort of volume control is pretty much a necessity.
Inq - yes, kind of. How much current flows through the tape depends on how resistive the material is to current flow, how wide the tape is and how long it is.
I think you will understand these things better if you do some simple experiments. You could readily put a prototype ribbon controller together and use it to vary the current sent to a torch light-bulb, for example, before considering using it to control something more complex. You could try different lengths and widths of tape to see what happens, and similarly with spray.