Hard to say.  

A friend used to do tree planting on industrial clearcuts in that area, not sure if his crew worked for Rough and Ready or not.  They found on steep slopes without shade it usually took several replantings to get the baby trees to grow ...

Selective logging can make more board feet in the long run but the rush for immediate profits has to be tempered in the short run.  

Of the top ten lumber mills in Oregon, none are making big beams any more (according to the Atlas of Oregon, 2001).  That should be our speciality, not wood chips and waferboard.  Western Oregon used to have some of the most spectacular forest on the planet, now only remnants are left.

If we were serious about climate change we'd ban clearcutting and only allow very gentle extraction from forests.   We could do much more with what we do extract - value added products create more jobs than automated mills or log exports.  And old growth forests have mushrooms with anti-cancer properties.  Seriously.