With inset. I haven’t done the finish yet and I’m not an expert on that, so I have a feeling this is as done as it will get for a while.
I don’t know what the wood is — if anyone cares to guess, I’d be grateful — but an 8x8x3 piece was $30 a few years ago, when I picked it up. It has a basketweave quality to it, is relatively soft and extremely easy to work.