I'm about to build my first* large project with real hardwood, and because random widths and lengths lumber is so much cheaper than standard cut lumber (and typical cut lumber sizes are often not even multiples of project parts anyway), even with a charge for milling to 13/16 inch and one straight edge, I bought random-random. The catch is that some of the boards have wane, non-straight opposite edges, and worst of all, cracks. The photo shows the largest board of the order, which also has the worst cracking.
So, my question is: How do I get the most out of the cracked lumber?
One strategy is to cut straight edges around the cracks and joint them back together, tossing the cracked edges into the kindling pile. One disadvantage is that cracks often don't run parallel with board edges, and ripping straight edged diagonals can be difficult (at least for my skill set and equipment).
But it seems like I could put glue into the cracks and clamp it, pretty much the same way I might join cut edges. This is only workable if the crack hasn't lost surface wood from the crack, which would leave gaps (such as in the crack on the right in the photo). A possible risk is that the cracks might be there due to tension in the wood, and that they'd just crack again, either along the glue line or elsewhere.
Are there other tricks to getting the most out of boards with cracks and other defects that I haven't thought of?
* Doing my floors in bamboo is a large project, but it's an engineered material made from woody grass, not real wood.