It is great wood--as good as anything we build guitars from. Exceptional clarity and balanced support for all registers. Some interlocking grain but not especially hard to work.
Only a couple of builders I know of have any sets. It's not available from any commercial tonewood companies. Guitar size boards are extremely rare; good pieces for bows have also become hard to obtain, although most bowmakers appear to have a stash. But there is a relative in the same genus from Mexico that is available in guitar sets from Hibdon under the name Paela; more commonly called chackte-viga.
Pernambuco looks like this (there are subspecies, according to the Brazilians. This one is called "orange leaf"):
Here's a different flavor pernambuco, built by Bruce Sexauer. Bruce has more experience building with it than anyone else I know of:
