I don't know if you figured out yet what to do with your cutoffs so here's my $0.02. I think most people here would say to cut it up now into as many blanks as you can, and then seal them. I know from my own experience with free fire wood that you can get too much at one time to handle, and cutting them up right away is impractical. I like your idea of sealing the logs now until you have time to make blanks. I got some small cherry logs that I didn't do that to. They started cracking from both ends. When I get around to it, I'll just cut off more of each end than I would have had to when fresh. But that's ok, I'll still get a lot of blanks.
Another thought, sometimes when timber is harvested, they don't cut the trees too close to the ground. If you have a chain saw, I'd go out to the 40 acres and see if any of the stumps are tall enough to get some large bowl blanks out of. Saw down the middle of the trunk first, and then cut it off as low to the ground as possible. It'll save you the trouble of splitting it later. Cut off a fresh end on the exposed end and then seal the halves right away. Hope I haven't told you anything you thought of already.