That should make a nice table. You have some good advice on the stickering and drying. Renting a floor sander may be a good way to bring it down, but it may not be level.
The small tabletop planers can only handle material about 12" wide. I think a planer would chip out some material with grain direction change at the knots A commercial drum sander would be real good if you have a local wood shop that could do it for a fee. I would give you a pretty level surface. If there is even a slight twist to the plank when dried, it will require several passes to take off the high spots to bring it to level. Then it will probably need to be flipped and done to the opposite side. Looking forward to see it completed.
If the slab cracks, there are always dutchmans. If it was my table, I would want a crack in it just to set some in.
Did you try the tenon cutters yet?
Not yet, the table top did crack some but were okay with that.
Edit: I like the looks of the drawknife. It looks sturdy and shoud ease bark removal.