Hey Buckeye! You're doing great and it does look like it's going to be a nice pipe.
I don't know if you've finished it yet but if you're interested I would suggest a couple of things. First, definately don't cut off the plateau. It can look really great on a large freehand. Brush the pleteau with a hard wire brush to remove all the loose bark then when you stain the pipe you might want to do the plateau in a two tone effect. Your can stain the entire plateau in a darker color than the rest of the pipe, then after it dries you can buff off the stain on the high points, then stain the entire pipe a lighter color. Or, just do it all one color if you like. Whichever you choose it should look great.
It looks like you still need some shaping as the sides are a little flat. I assume you want a round bowl. Let's hope you don't hit a flaw.
In my view a good band saw is a must for pipe making. In order to drill the bowl and draft holes properly... so they meet exactly at the right point... you need to be able to "square-up" the block so the sides are exactly at ninty degrees. Then when you chuck the block in the machine vice to drill everything is straight. (I'm assuming this is how you will do it) The problem is that most "consumer" band saws don't do a very good job. The blade tends to wonder and you don't get a striaght cut. If your wellet can stand it I would suggest you buy an Inca, they're really good. If not try to get one that is heavy duty at least.
Best of luck with your project and be sure to post a pic when it's finished.