The evolution toward small-diameter and fast-growing plantation timbers such as the Pinus elliotti var. elliottii (Engelm) × Pinus caribaea var. hondurensis (Sénéclauze) (PEE×PCH) hybrids around the world is producing large volumes of core wood that are falling short of structural sawn timber grading requirements. Engineered timber products such as cross-laminated timber (CLT) and glue-laminated (glulam) offer potential solutions to value-adding this resource, but the bond performance of this feedstock and the extent to which current standards and guides address its common characteristics for bond performance need to be understood. This study investigated the bond quality and performance of clear defect-free, low stiffness out-of-grade PEE×PCH and evaluated this performance using the pass/fail criteria of the CLT bond performance requirements of three national CLT standards. 5-layer CLT delamination samples and shear block test samples were glued using one-component polyurethane (PUR). This process was repeated for common occurring characteristics in this resource of resin, knots, and pith to understand their impact and inform an evaluation on the need to restrict their inclusion. Clear samples had an average glue line delamination of 2.9% and an average glue line wood failure of 96.7%. Resin achieved 9.3% and 92.6%, respectively. While knots had the lowest performance at 24.4% and 77.4%, respectively. When pith was at or adjacent to the glue line, wood failure occurred through the pith and its immediate surrounding fiber. Shear strength and wood failure tests were carried out on glulam and CLT-oriented samples. CLT knot samples were tested in two load orientations. Glulam-oriented samples in clear, resin, pith, and knots achieved an average shear strength of 8.5 MPa, 8.2 MPa, 7.9 MPa, and 8.2 MPa, respectively, and wood failure of 86%, 85%, 90%, and 69%, respectively. CLT-oriented samples in clear and resin both achieved average shear strengths of 4.0 MPa; 0°-loaded and 90°-loaded pith samples achieved 3.6 MPa and 2.4 MPa, while 0°-loaded and 90°-loaded knot samples achieved 4.2 MPa and 4.7 MPa respectively. Average wood failures were 90%, 89%, 96%, 96%, 83%, and 51%, respectively. PRG320 was found to be the most restrictive standard. Resin, knots, and pith were not addressed in the evaluation of delamination or shear strength in any standard, and PRG320 was the only standard to restrict these characteristics over and above structural grading rules. The amount and type of characteristics present vary considerably in structurally graded wood, and even more so for this out-of-grade resource. It was determined that the negative impact that resin, knots, and pith have on bond quality and bond performance calls for some restriction of their inclusion in order to achieve the author’s interpretation of the intended bond performance requirements of the CLT standards, which currently do not address these characteristics well or at all. A proposed modification to the PRG320 effective bond area was presented as a proactive solution.