OSB Boards ....Good or Bad?

I would like to know what would be good to use on OSB boards. (My dad used to called them chip boards.) I have a just a few of them…lol…The side that looks like rough chip boards shows up when I paint it. What would be the right way to paint it? Hopefully make it a little waterproof so it will not swell up when it gets wet. I want to make crafts and boxes with it but I don't want it falling apart on people.

AND What have you fellow crafters made with this kind of boards? I have made a few signs with it and people seem to like the chippie side showing thru the paint. SOME people really like different things.

Do you like to use it? If not why?

Thanks for your ideas and input!

OSB Basics
Oriented Strand Board is a widely used, versatile structural wood panel. Manufactured from waterproof heat-cured adhesives and rectangularly shaped wood strands that are arranged in cross-oriented layers, OSB is an engineered wood panel that shares many of the strength and performance characteristics of plywood. OSB's combination of wood and adhesives creates a strong, dimensionally stable panel that resists deflection, delamination, and warping; likewise, panels resist racking and shape distortion when subjected to demanding wind and seismic conditions. Relative to their strength, OSB panels are light in weight and easy to handle and install.