Paul - Has some red flag been raised with the code enforcement inspector? I should think that enough full round work happens in your neck that he's seen checking, and understands that checks do not effect "structural soundness".
All I'm suggesting is that you cannot prevent the inevitable, you can however predict and even encourage the probable by understanding the material you are working with.
Yes it should both be worth the cost of bringing in a portable bandmill, and choosing interior sides now, clip the side closest to the pith, this side should naturally check heaviest given even drying, clipped even closer to the heart, it will. Once radial tension is relieved by this check the rest of the stems circuference will check less (read that less, there will be other checks, the hope is to have the unseen one be the only large enough to stuff your fingers in) than it would otherwise.
You want as much of this radial release to happen before you begin your bale enclosure (preventing air flow to this side) as is possible.
Sealing the whole log is to be avoided, and nothing you want to clean up later.
