"sunk" wood

Folks,
I've been looking at some "sunk" wood for a project. For those who have not encountered this lumber - it's logs that were being transported via ship or were being floated to a sawmill 100+ years ago and didn't make it. For one reason or another these logs sunk to the bottom of the river or lake and have only recently been salvaged. The sunk lumber I'm encountering is usually cypress or pine and the cost is $5+ per board foot.
Many of you folks used any sunk wood for you projects? What was your experience? Thoughts, recommendations?
Mark
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I saw an article on TV a couple weeks ago about "submerged" timber in BC Canada. The story said that whole old-growth forests were submerged when dams were built for hydro-electric power. A company uses robot submarines equipped with grippers and chain saws to harvest the lumber. The volume of lumber waiting to be harvested was huge.
-JBB

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Here is an excellent write up done by NCSU about policy of getting sunken logs....
http://dcm2.enr.state.nc.us/Facts/log_salvage_report.pdf
Mark Teller wrote:

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This company used to have some.
http://trestlewood.com /
Dave

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