If there's one thing wood is good for, it's making things more complicated! Adds Charcoal, which can be cooked from woodchips in a Kiln. Forging steel now requires charcoal, so wood has suddenly become quite valuable, though for your troubles you do get more steel per iron.
Not a good idea to install on its own, but pairs great with mods that add ways to farm wood early-game. Speaking of which, stay tuned!