Yep, the blue stain has absolutely NO measurable impact on a board's structural integrity. The fungus just feeds off the sap and water of the tree - this is why the stain only ever affects the living outer sapwood layer of the trunk. Blue stain fungus will also not spread or advance once the tree is cut. On the other hand, the red "heart stain" (which often leads to whitespeck and/or honeycomb) IS a precursor to rot, as it is caused by the same rot fungus which
does feed off the cellulose fiber of the wood itself. Early heartstain without whitespeck etc. is essentially just as strong as clear wood, but must be kiln dried and kept out of moist environments. Heart stain WILL progress into rot if exposed to moisture even after seasoning.
It's ironic, because the Japanese are so incredibly picky with their JAS export grade specifications - they will allow small amounts of red heartstain but absolutely NO blue sap stain, which is structurally sound and stable unlike the heartstain.
FWIW the MPB started out in a Provincial Park (Tweedsmuir) a few hours' drive west of where I live back in the very late '80s. It was confined to just a few hectares at the time, but the powers that be decided to let nature take its course since it was in a park. With the warmer-than-average winters we've been having since then, they've exploded north, south, and east of there. The old timers out west say that it took cold snaps of near -40°C for two weeks or so to really knock them back, and we haven't seen weather like that in years. We'll still see the odd day around -40° a couple times a year, but no long stretches. Out west in that area they've recorded temperatures below -70°F decades ago, but not recently. The only saving grace is that the beetles literally do eat themselves out of house and home - after they've swarmed the big trees, they're forced into the much smaller ones, where they are much more susceptible to the cold and are killed off easier. This is why smaller ~<3" pines generally survive attack. And the beetles literally do swarm trees - I've been out cutting firewood and heard what sounded like a flock of bumblebees, only to see the sky grayed out by what appeared to be millions upon millions of beetles.
Some CBC info.
There aren't many lodgepoles around here big enough to be able to mill a decent-sized board out of the sapwood; maybe a 2X6 G1S at best from average trees. We don't have Ponderosas up here, but my aunt a few hours south has plenty of dead trees and said I can have any I want. I've cut a couple of hers for firewood for her, and they had blue sapwood layers 6" deep or more. I have a few short pieces of blue-stained boards that I took from the mill while grading there. A few have a really neat tiger/zebra type pattern - I'll have to dig out a few and take some pictures.