That link to the lam grinder is awesome, I used it to make my thickness sander and it works great.
The post by Kris is almost exactly what I've done and it worked out well.
I've read that grain orientation doesn't matter too much with glass bows, but unless you are using clear glass and fancy lams, I think that the closer you can get to edge grained the better off you'll be.
I'm just starting with my recently-found bowmaking addiction so take my post however you choose to, but each bow that I've made so far have generated zero complaints
[One bow was for me, the other were for my children, lol!)