Erik all of the larch and hemlock i use is very wet. It's actually milled on site (Amish) so it's alway's got moisture in it. I mainly use it for ouside construction, decks/fences/my outdoor indoor pond, and stuff like that. At .42 cents a foot it's hard to beat. For instance i can buy a true 2"x4"x16' that's straight and has a good crown, at $4.48 a board, most of this wood is from the core of the tree so it's a lot stronger.
As far as staining goes it stains nicely if you let it dry for a month or so, the wood has a beautiful grain to it. When i built the addition to the house for a large kitchen i framed it all with hemlock, built the walls in 6' sections and each section was around 300 pounds just for the framework. I love working with hard woods like oak and cherry but at the skyrocketing prices these days i can't afford it.
Thanks for the info on the jig, the hand held one is the way i'm gonna go.