The wood is beautiful. I made some end-tables from wormy chestnut barnwood that turned out to be beautiful. You'll have some waste, but that's to be expected. The grain is nice and the color is great.
My suggestion for finishing is to use an oil or an oil-poly blend. Use oil-poly where you need more moisture protection such as on a tabletop. I sugegst that you do not put on a thick film coating such as polyurethane or shellac. If you go this route you will need to fill the worm holes and imperfections, opening up another can of worms. ;-)