That's definitely what we call poplar here in central PA. It's a very fast growing hardwood that ends up being used for both veneer and milled into wood trim, especially the fancy scrolled stuff. It takes stain very well, and doesn't expand/contract as much as softwood trim.
What I've noticed is that the trees have a "tap root" which goes deep, but if it snaps, the whole tree comes down.
If you leave it on the ground like that, its going to start sprouting fungus after a few rains. After it dries for a bit, you'll get more of those cracks and the bark will practically fall off.
As for firewood, it works well as "day wood" for use in early fall and late spring. If its dry it will light rather easily and build a good hot fire, but it won't last as long as oak or locust. On warmer days you can build a fire with, turn the stove back all the way, and it should do just fine to keep the house comfortable. It does create a lot of ashes, though.
Because it's fast growing, it has a very long grain, and splits easily. With those cookies, I'll bet you can eventually just drop them on a rock and they'll break apart.
