Warty,
Voila:
Among many other applications, gum from the wood was once used to treat syphilis. For example, Benvenuto Cellini records this use of it in his memoirs. See also the quote by Nashe in the article Honorificabilitudinitatibus (there spelled 'guiacum'). Guaiacum resin has been used to treat a variety of medicinal conditions from coughs to arthritis. Wood chips can also be used to brew a tea.
The artist Jan van der Straet (also known as Johannes Stradanus) painted a scene of a wealthy man receiving treatment of syphilis with Guaiacum wood sometime around 1580.[8] The title of the work is "Preparation and Use of Guayaco for Treating Syphilis." Epidemic syphilis had been raging through Europe for nearly a century at the time of the painting, and hopes were high that this plant from the New World would provide a cure. The richly colored and detailed work depicts four servants preparing the concoction while a physician looks on, hiding something behind his back while the hapless patient drinks.[9]
A phenolic compound derived from the resin of Guaiacum trees is used in a common test for blood in human stool samples. The presence of haem in the blood causes the formation of a coloured product in the presence of hydrogen peroxide. The effect of peroxidases in horseradish on guiacum was first noted in 1810 by Planche.[10]
As a food additive Guaiacum has the E number of E314 and is classified as an antioxidant.
A widely used derivative drug is the expectorant known as guaifenesin.
The soap fragrance oil of guaiac comes from Bulnesia sarmientoi, a South American tree from the same family.
(From wikipedia)
Actions: Anti-rheumatic, anti-inflammatory, laxative, diaphoretic, diuretic.
Indications: Guaiacum is a specific for rheumatic complaints. It is especially useful where there is much inflammation and pain present. It is thus used in chronic rheumatism and rheumatoid arthritis. It will aid in the treatment of gout and may be used in the prevention of recurrencein this disease. Due to the high content of resins in this valuable herb, Care must be taken with patients with gastritis or peptic ulceration.
Combinations: It may be used together with Bogbean, Meadowsweet or Celery Seed.
Preparations & Dosage: Decoction: put l teaspoonful of the woodchips in a cup of water, bring to boil and simmer for l5-20 minutes. This should be drunk three times a day.
Tincture: 1-2ml three times a day.
http://www.healthy.net/scr/MMedica.aspx?Id=222
Another interesting read:
http://www.stjohnhistoricalsociety.org/Articles/LignumVitae.htm
Pretty much sums it up.HOWEVER, more case studies are still needed to validate the use of it.