A friend of mine works in a flooring outlet - and is able to send mis-ordered goods my way. I've made bench tops and kitchen island tops out of it, by cutting off the tongue and groove, planing the finish off, and then laminating - it works great!. As others have pointed out, however - it will chew up your planer knives pretty quickly - so I wait until my knives are nearing their best before date and process a bunch of it.
Others here have pointed out different applications, which I'll definitely be looking into!