The most critical area of a gunstock, or grips for handguns, is the wrist of the stock, where you want the grain of the wood to run parallel to the line of the wrist. That give the wrist the most strength. You want to reserve the most ornate grain abd burl for the body of the buttstock so that you can show it off in the finished stock. The forestock needs to have straight grain running the length of the stock, if it is going to pretty thin. Half stocks let you use more wood, so you can cheat on the grain direction.
If you have a good piece of wood, but it just doesn't line up for the stock you want to make out of it, think about cutting the blank in half, planing both sides, and then flipping the pieces over so that the two center sides face outward, making a mirror image for the stock's grain. You can laminate the wood, giving the wrist that strength it needs, by sandwiching a thin layer of some other wood, or wood from another part of the same tree, and gluing them all together and pressing them under several hundreds of pounds of weight. With the lamination, you get two things you may not get from that pretty grain pattern. First, any stresses in the wood will expand in opposite directions, cancelling each other out, and making the wood far more stable than a stock cut from a tree in one piece. Second, you get to make your stocks without waiting for years for the wood to air dry. The stability of the stock will prevent the stock from warping, or moving in any direction, and that thin piece of wood sandwiched in the middle makes a good centerline for all the work you will do inletting the barrel, action, and other parts. It also gives strength to the stock where the action mortise is cut, making it much less likely to split, or crack over the life of the gun. Finally, with that pretty wood facing out on both sides of the stock, you can go nuts in how you adorn the wood to highlight that wonderful grain.
As for the rest of the stump, I see some nice knife handles there, and a few nice pistol or revolver grips. Maybe even a few pens( if you contact
[url] Woodcraft.com[/url], for how to make them, and to buy the kits of parts to install.) The latter depends on if you have access to a turning wood lathe. That gorgeous stump wood would make some very expensive wood bowls, and vases.