John, the Australian grown River Red Gum when turned dry is very rewarding, particularly the burl or the wood close to burl where it doesn't have too many bark inclusions. It can be very nice, takes an oil finish well and polishes up well, at least that is what I have found. But I usually only turn very dry pieces. It can minmise the risk of problems.
You might find it hard, but in Australia we are use to that. Use good tools ( doug thompson etc) and keep them sharp. Small tip tools can be good as you can't take too large a cut. Don't be afraid to power sand to get a good surface, if burl etc, it can sometimes be the only way.
Hope this helps.