That is some snakey stuff.
It is definately worth keeping and attempting to build bows from that log. With wood like that you won't know what to expect until you get into it and then it will probably be still full of surprises.
I would set it aside in a protected place and let it stabilize before I worked on it. I have never worked with wood that snakey so take my advise with a grain of salt.
I got(and still have) a beautiful snakey stave from David Knight that he had gotten from Sawfiler. Very snakey but the stave is as straight as an arrow. Shannon attempted a bow or 2 from the same wood and it(they) failed. The problem was that each yearly growth ring grew in a different plane from the one below it and this was throughout the entire stave so each growth ring fought between the rings above and below it and not in unison like most staves do.
Even if you don't make a successful bow from any of that log each stave will teach you plenty if you give it a chance.