So when a bow takes set, it's mainly, if not entirely because the belly wood is being permanently compressed. So if you want to address set, you need to be looking at the belly.
I think Fujimo is right on for that exact reason, although Bowjunkie also has a good plan IMO with cutting a kerf into the tips and recurring them.
At the end of the day though, repairing a bow takes all the skill it takes to build a new bow and more. Sometimes, if not most of the time the easiest route is to build a new bow. I generally only repair if it's sentimental or I have a really huge amount of time in making the bow, like a sinew backed recurve or something like that. I probably wouldn't go to much length to repair a hickory board.
Both Fujiimos plan and Bowjunkies plan are reasonable, and can be done fairly quickly. Especially the kerf cutting.
More details on the bow and pictures would probably help.