Well thanks guys for all the input. Those pics really help.
I thought I'd post pics of my progress so far. I've spent a good 5-6 hours so far rasping and scraping the crap out of it, and it's bending pretty good so far. I did have one knot that I poked through the limb cuz it was pretty pukey. And I've got another one that isn't completely loose, but it isn't really tight either, but it only goes a little into the limb, not all the way through. I'm thinking I'll just leave it. If it falls out later, oh well. Anyway, here's the pics.
Here it's bending a few inches at a low brace height of about 3". It's looking pretty good but the inner third needs some taken off. I've already adjusted it since, and it's looking better, but I don't have any pics of it yet.
Here's the limb with the small knot I poked through. Should I sand/round over the edges of the hole, or just leave them? I'm okay with just leaving them, personnally, but I didn't know if it would benefit to round them over a little.
Here's the other limb. I'm assuming these cracks won't really hurt anything since they don't run off the edge, but what would the more experienced do? Again, I'm thinking just leave them and if it blows up, at least its my bow and no one else will be shooting it!
I've been working on it more since these pics, and it's bending pretty well. I'm gonna brace it tomorrow and sneak up on the weight. What do ya'll think? Think I'm okay so far? I'm not really worried about screwing it up, except for losing the time I've already got in it, but I've got plenty to try again!
Anyway, thanks for the replies and suggestions! And thanks again for the pics. They help a lot!
Joe