One tip on trapping the limbs that is just pure speculation on my part....
I don't think you will want to remove the same amount all the way from the fades to the tips. I mean, if you trap the edges say 1/8" in at the base of the limb, I doubt you would want to trap them in that far out near the tips. Try to keep it all in proportion. The limbs are wider and thicker near the fades than at the tips so probably the percentage of removal would be the same but if you sand in 1/8" at the base, I doubt it would be more than 1/16" to maybe 5/64" out at the tip.
If the sides of the limb are a straight taper, you should be able to lay a flexible straight edge on the back of the bow and clamp it in place with say the 1/8" in at the fades and eyeball the amound somewhere about half that near the tips and draw a line then hand file only as far as the line.
On the handle, I'd just make it so it's comfortable. If the back is too flat, you can radius the edges a bit or add a simple overlay of wood or leather. If you want to try leather, check out this thread:
http://tradgang.com/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=2;t=000066 That one is on a self bow but it will work on a Montanna just fine.