OK, no one is convinced about my idea. Well that is understandable. It is natural to want to position the grain layers from top to bottom. When the body is shaped, this configuration gives nice curved contour lines, pleasing to the eye, when viewed fron the side. Whereas, if the layers are positioned side to side, all you get is a bunch of parallel lines. Unless you are going for a natural wood finish, all the above is irrelevant, no one will ever see the artistry.
Another arguement for horizontal grain layers is construction strength. The ballast hole would be a lot safer to grill, virtually eliminating splitting.
To prove the point, I found the grainiest piece of nasty wood in my apartment (now a three legged kitchen chair) and the bluntest 1/16th dia drill. I hung it out of the end of my drill and drilled this hole 1.4 inches long.
Laser Straight!