I was wondering if the arborists and/or tree lovers in the group had
any advice for me.

In massachusetts, we have had some strong windstorms and steady rains
over the past few weeks. Last saturday night, I hear a crash and
looked out to find that our "leaning maple" had lost a large branch.

http://www.flickr.com/photos/68629864@N00/161641659/
http://www.flickr.com/photos/68629864@N00/161641658/

My question is, what is the prognosis here? The branch took a fairly
large chunk of the trunk down with it, so it is obviously weaker at
that point than it once was. Is there anything I can do to "clean" the
wound and remove the crotch that developed so water and insects dont
collect there? Or do I need to take it down? If it falls, there is
nothing in its path, and it still appears to have some life left in it,
so I would love to save it.

Thanks in advance for the toughts and advice!

Joe