Disclaimer-this is my opinion and there will be others who disagree with me, however, I am sharing with you my experience.-
It is a suitable wood, however I refuse to use it as there are so many other choices out there which are more "suitable" and better looking than red oak. If you are looking for something somewhat inexpensive, why not try Rock Maple or Cherry? I also think that Oak is too splintery to use. Oak makes great furniture, however.