$40 for the board is about right, I'd say.
For me, I buy my boards about 5 3/4" wide by 8' long, and 3/4" true dimension thick for 40 bucks. If they are 1" true dimensions thick (5/4 or whatever it is called) they jump to about 60 a board. I only buy the 1" thick if I am doing a heavy thick "something" backed ipe warbow. For all other purposes, especially trilams, 3/4" is the way to go for me. I can get 100 lbs at 32" by backing a 3/4" board with a 1/8" hickory backing (my 100 ipe warbows will only be about 1 1/8" wide by 7/8" thick). I buy from a lumber company that supplies decking stuff. I saw some in woodcraft the other day, they were trying to rip people off too,
. I would suggest to leave it be, the grain doesn't look great (not too easy to tell in the pictures though), it's better to get a board with straight clean grain. If you look around, maybe using google maps, you can typically find some one who sells decking stuff that carries ipe. Craigslist is a good place too to look too.