I would cut any blanks for stocks at least 3 1/4", as you will loose a decent amount of the thickness in drying over time. You want your finished dried and planed blanks to measure at least 2 1/2", many stock turners want them 3" planed for a stock with a cheekpiece on it. Best to start off a bit too thick, you can always run it through the planer again after it all dries. As stated, the area just above the root mass (even into the root mass a bit, but watch out for dirt and stones) and the crotch areas will yield the best figure, but I have seen some very good fiddleback figure from the first 6 to 8 feet or so above the root mass and well below the first crotch, areas you would think would be only good for furniture wood.