That's looking like a nice stave.
I'd leave the knots sticking out fairly proud (at least 1/8", you can always trim them more later on) and keep an eye out for any rotten knots, I've had ones the size of a pencil which were black but looked solid...they weren't. If they are blak dig 'em out and fill 'em with a peg. In the pic, yours look nice and clean.
The sapwood looks fairly thin which is nice.
The only problem may be getting the draw weight down without loosing all the heartwood off the belly, there are several ways round it. Go narrower, de-crown the bow or reduce the sapwood thickness. A combination of all 3 may be appropriate.
Looks like it should make a nice bow.
Del
BTW. I've seem 'em done with the sapwood showing as a thin line down either side of the belly (like it is now) and also with the edges of the bow trimmed so the belly just shows heart wood. Both looks good, I've only done the second option myself.