Alright, finally making some progress on this one.  I followed the consensus and left that big ugly knot on the edge, though I'm not sure if I should take a little more off around it.  It's also loose in there.  Trying to decide if I should drill it out or soak it with CA glue.

And I cobbled together a PVC steam box from my 
junk... treasure piles last night.  The bow spent an hour in there, and got clamped pretty straight overnight.  I went a little past to account for it sneaking back, but I should've gone a touch more.  I'll hit it again.

My question now is, how long do I let it dry before I start tillering after being in the steam? I don't own a moisture meter.  I brought it in the house where things are a little drier at the moment.  I'm asking more questions than I am contributing useful content, at this point, but I do appreciate the help!