If it has nice grain, I'd go ahead and use it.
Knowing ahead of time that the wood species isn't what a fine piece of Maple would be in the strength catagory,
Just build according to that. Not everything has to be a big bore boomer.
It's been used for lots of rimfire and some centerfire rifles and some shotgun stocks. It's held up well there. The idea was a cost reduction of course. But some of those pieces of wood occasionaly show up with pretty grain as well..