I have a pau ferro/maple neck getting finished right now (and I can't wait for it). As others have said, it is good for fretless because it is very dense. Tonally, it is supposed to be a little darker than maple but much brighter than other rosewoods. I believe that Morado is another name for it. A number of builders use pau ferro/morado for boards. Sadowsky does, ken smith uses it for body tops, as well as boards, etc.
FWIW, rosewood is kind of a bogus term anyway. 60s fenders (including Jaco's) were brazillian rosewood, which is hard to source and very expensive (I believe it may be illegal to harvest from the wild now). It is denser and brighter sounding than Indian rosewood, which is a different species. I'm not sure that the different rosewoods have much in common beyond a general color.
Invalid Link Removed
FWIW, rosewood is kind of a bogus term anyway. 60s fenders (including Jaco's) were brazillian rosewood, which is hard to source and very expensive (I believe it may be illegal to harvest from the wild now). It is denser and brighter sounding than Indian rosewood, which is a different species. I'm not sure that the different rosewoods have much in common beyond a general color.
Invalid Link Removed