I've made forends several times from old buttstocks, sorta keeps the old girl in the game, if you are a sentimental soul like me! Quarter sawn was mostly done to white oak to expose the medullary rays, or " wormy appearance" you see in fine furniture. This link explains quarter sawing about as well as any. I own a timber company here in West Virginia. We seldom quarter saw unless for a custom order as there is a good deal of waste, it's expensive.
http://www.wisegeek.com/what-is-quartersawn-wood.htm