I built a couple with imbuia (or however you want to spell it) , the stuff i have has a "wet cardboard" kind of sound when you tap it, but the guitars ended up sounding pretty nice. One was a pretty traditional 12 fret triple O with a sitka top, and the other was a big sucker and looked like this
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Oneida_Black.jpg
it has a red spruce top with radial bracing .
They are totally different guitars, but they had a common "warm" and "round" sound, with a semi compressed sounding initial attack. I wouldn't use the stuff i have if i was going for a loud barky bluegrass guitar, or a bright "tanky" vintagey guitar. The red spruce guitar in particular has a cool almost plugged in archtop kind of smoothness, and sounded nice and fat way up the neck, i usually shoot for a more ragged and aggressive attack but i like what those guitars are doing.
I don't know how much of the tone of those guitars to attribute to the imbuia, and i don't know how similar or different it is to your wood, but i liked it ok, it's not my favorite wood but i think it can make a nice sounding guitar. I would try to pair it with a top that leaned towards the "bright", "chunky" and "fast" end of things if i built another one.
The board i have is pretty flamey and i found it to be a real mutha to bend, it is the only stuff to give me bending fits in recent memory, it really liked to kink at the short grain portions of the flames. Straight grained pieces would probably bend much easier. Tiny pores means no pore filling, bonus! One of the coolest things about it is the smell, my shop smelled like spicy indian food for a month.