That tiller looks pretty good, but if it had more of a hinge during construction which developed chrysals, unfortunately they don't just go away even after you get things cleaned up. If the chrysals were localized in one small spot, you could do a radiused belly patch. But these extend for a foot or so, which makes an actual repair more effort than grabbing another stave.
You could hang it on the wall or shoot it, keeping a close eye on those chrysals and the tiller shape, and an ear out for any telltail "ticks". If they seem to be growing at all or you start hearing faint "ticks", hang it up. Chrysals are a bit like a time bomb, prone to sudden death.
Sometimes they give a warning before cutting loose. Sometimes not. Those don't look "terribly" bad, but then again that's a flat (thin) belly with little meat to give slowly. Be careful if you decide to keep shooting it.
With that said, congrats on the first one. I'm sure you learned alot from it. I've always been a proponent of beginners using a good, clean stave of hickory or osage. I doubt either one of those woods would have developed chrysals, so even if the tillering wasn't perfect, you'd have a fine bow. I know they're expensive, but I believe having skins in the game encourages people to work carefully.
The real bargain of cheap wood often is realized only later; that successful odds and satisfaction were traded away. I admit it's an alluring trap. I was excited when I bought a $19 Sawzall from Harbor Freight, once...Need I say more?