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My understanding is the wood library guitars were picked from the same vault as the Private Stocks, but still not necessarily allowed to use some of the bodies/tops that a PS would. The buyers hand picked the woods for it so it has a very light body compared to my other PRS. I think in the end the tops for the wood library and the artist grade end up being the same
Probably because they are the same Wood library guitars are usually non-artist guitars that have some artist grade woods, usually selected by the dealer putting together the run. Wood library guitars are also usually less expensive than artist guitars and don't have all of the artist features.
Still loving your guitar