This is what a flat sawn board of Walnut is
supposed to look like, cathedral grain in the centre with rift sawn, straighter grain out at the edges. As I said before, this is what the market mainly demands because you get grain interest plus the rift sawn edges make it easy to seamlessly joint together boards to make something wider. That's why the great majority of hardwood sold in this country is flat sawn.
And here's what the end grain looks like on this board,
However, even though this is the
theoretical optimum flat sawn board, in reality you'll generally have to self select in order to find boards as tidy and symmetrical as this. If you're a decent volume commercial buyer you'll probably receive most of your boards to this quality with a phone call, otherwise buying over the phone is pot luck. You may get this board, but more likely you'll get a board where the cathedral grain hangs over one edge so it's almost impossible to joint up a panel without a visually jarring grain clash. None the less, this is representative of the kind of timber you'll get from the majority of timber yards who are usually just importing sawn boards.
However, if you're prepared to put some effort in, you'll find yards that have through sawn, waney edge stock like this excellent board of Brown Oak.
This board was originally sawn so as to maximise the yield of quarter sawn stock. Even though it's rough sawn you can just see the ray figure, when it's planed that ray figure will be prominent over the full surface.
It also shows another couple of interesting characteristics. You can see one edge is bevelled, you'll often find this with quarter sawn logs, it's a result of how the log is rotated between cuts and later cuts intersect with earlier cuts. Another thing you can see in this photo is that the pith hasn't been boxed out and has warped all over the place. Pith is something you absolutely must avoid in finished furniture components, if it's present in a board you must trim it out.