Creating Channel Networks

Not out of the box, but thinking out loud: if you create a DEM of points, connect each one to its lowest neighbor and then create a network (with network topology) out of those results you could filter out based on Strahler order

Sounds feasible! I have another question to post regarding merging .asc files grouped according to a site ID and saving out the individual merged .asc files. Once I solve that problem I'll revisit your idea. Need the merged LiDAR surface first.