Yes, that would be the buildalong. Yes, 1.25 in should be fine. 68" was for a 28" draw. What is your draw?
Can you show us pictures of the grain?
Backing the stave is agood idea until you get some experience.
I'm not much on artificial backings (that is just my personal choice) which is why I suggest linen silk and burlap the real burlap which is jute.
Jawge