That's a great question and I for one wish I had a solid answer. I can tell you my opinion though. Honestly I don't think it's been used enough to give the best answer on how it sounds. I think the biggest reason its not used is because years ago acoustic instrument builders tried it and it did not work well in their application. You see thats where this whole "tone wood" thing originates, and it's amplified by marketing nonsense. A solid body instruments sound comes mostly from the electronic system. This is what it relies on to make useful noise. Electric guitars simply dont require the same wood properties as acoustic ones, so why should the same rules apply? Again this is just my opinion, many will disagree but I firmly believe It boils down to three things tradition, marketability and looks.
Not one to stick with tradition, marketability and looks, when I do use oak in a neck Ill use this,
Its quarter sawn white oak, the large fleck in the grain is pretty common in white oak when Q.S I think this looks nice. On the Janka scale, white oak has a hardness rating of 1360 this is harder than white ash, Honduran mahogany and black walnut its almost there with hard maple which scores a 1450. This tells me that it is structurally sound for neck use and as with most Q.S. woods it should be very stable.