Red Gum is a great timber, I turn a lot of it as part of my day to day income but I'm not too sure if I'd want to use old house stumps in my boat. I use quite a bit of old fence post material and while the timber that was underground is very attractive it is usually not very strong... If I were to use an Australian timber for the keel, stem etc. that was similar but more "Nautically friendly" then I think I would be more inclined toward Jarrah. of course you could go the whole hog and do it in Huon.......
Bald, ugly, not too bright but incredibly sexy in an unattractive sort of way....