Seems to have the benefits of dandelion and foxglove.. likely less strong than either of those in the things you'd want from them though. Could be a life saver regarding the digitalis content. (not from cooking with it though )
Seems I have been under a false illusion about Spindle wood, it seems to have been used as pipe stems and tooth picks etc. for a very long time. Information seems scarce, but I found this:
http://www.druidry.org/library/trees/tree-lore-spindle