I've worked with red oak, and I love it; its only drawback is that it's hard to get a really glossy finish out of it, but that's not a problem for me. The niftiest thing I did with it was resawing some old tongue-and-groove flooring to bend into ukulele sides; I was surprised the oak bent so well. People tell you to watch for tannins during bending, but I had no problems. It's holding up just fine a decade later. Same with oak necks I've made. The one thing I've never done with it is use it for a fretboard, but I probably would.
Being cheap and plentiful, oak is especially good for prototyping. In fairness, I suspect part of the reason I enkjoy oak is because I use hand tools almost exclusively. My understanding is that it can be splintery.