Leave the bark on and paint the cut exposed parts. Ideal just let it sit for a while, was it on a live tree or dead? If live it is very wet and just sitting for a few months before cutting is best. then cut it up into big chunks. Wrap the chunks in newspaper or put in a cardboard box for a while then I would try the oven or drying box. It has to dry slowly at first and as the moisture drops more drying will draw out the last bits of moisture. So slow at first or it will crack, it will also crack on the outside in where Rob said the best wood is. Good luck go slow and forget about it for a long time would be best. I see some snow, just park it in the garage/shed until at least spring, with the non bark part painted, could be the difrerence between a lot of burl and a few bits you saved from a rush job..
Cheers Ron.