I totally agree - Jim, that is a beautiful tool, and sounds extremely functional as well. I expect you have are aware of some of the dangers of working with spalted woods and take precautions, but felt I should just mention it.
Years ago I read an article about a woodworker who worked with spalted wood and developed pulmonary fibrosis. He attributed this to working with the spalted wood. Of course this is anecdotal evidence and there is some controversy as to whether spalted wood dust is any more dangerous than normal wood dust (
http://www.finewoodworking.com/item/...k-about-health) ... but when it come to my own lungs I err on the side of caution. Just thought I would mention it and you of course may do what you would like with it. Best practice of course is to treat all wood dust as a health concern I guess, but that article from years ago seems to stick in my craw.