That's some beautiful wood, but it's definitely NOT Western Red Cedar. It IS certainly one of three or four species of Juniper. If you got it from a wild tree, given your location I would put my money on it being a Utah Juniper. If not that, then I'd say it's a Rocky Mountain Juniper which also grows in your area. We have them here, and the trunks and heartwood look exactly like what you're working on. They very rarely reach that size here - it's uncommon so find any over 10" diameter, though according to my tree book they can grow up to 2' diameter and 50' tall. I've been meaning to grab a bunch of the biggest ones I can find to mill some T&G for lining blanket boxes etc., but they're hard to find dead on public land, and like you said they generally have a lot of bark pockets and inclusions due to the irregular shape so a log needs to be quite a bit bigger than the desired boards to get nice clear wood.
That same book shows the natural range of Eastern Red Cedar extending only out to the eastern border of Colorado, so I think it's unlikely that's it. Also Eastern Red is technically a Juniper and is not closely related to Western Red, though the bark and trunk shape tend to be similar and much straighter than other Junipers.