tut:
I am sure from your description the gentleman is the same guy who displays at the Baltimore show each spring. I have seen his English walnut; its appearance is basically the same as the few trees I have cut here in PA: fairly light in color, somewhat open-pored, little contrasting streaking/marbling. It will, however, make up into a very nice stock, although you may wish to dye the wood a bit.
In answer to your question, (not being a horticultural person) I would think you are correct in that the soil content is what makes the difference. Seeing as how all thin-shelled walnut that is used for gunstocks (Circassian, Frenceh, Turkish, English) is the same species of tree, where it's grown and the conditions the tree endures seem to be the deciding factor. This is a point of interest to me, too, so any information from knowledegable people would be welcome.
Craig Libhart