Bigwood,I notice that you're from Toronto. I'm headed up there this weekend! I'll be at Norwood's open house in Buffalo, NY on Saturday, and up around Toronto Sun & Mon. I'll PM you my contact info. I'd love to see what your boss is doing with the mill, if he'd be willing to show it. I second the request for photos!!!
Raven, there is less sapwood, because it has pretty much all rotted off. I do think that sitting there all those years has given the wood a richer, darker color, though. Amazing that tons of wood like that gets left in the woods every day. Sawing crosswise through the crotch can result in some incredible grain pattern, especially in walnut.
It will probably end up as a coffee table top. I've got some bigger pieces for counter tops.
Just a Tree Guy, I'll be out your way for the Paul Bunyan show (Zanesville, OH)in October. I've also got a good friend with a Norwood mill not far from Harrisburg. He is a high end woodworker, and might be interested in your river logs. I recently wrote an article about him for Sawmill & Woodlot Management magazine. I'll PM you his web site.