I remember the first self bows I had ever seen. They were made out of beech and the makers had misunderstood the meaning of chasing a ring. They had scraped the belly concave, down to the inside of a single growth ring. The bows were pyramid profile, about 2" at the fades, and shot really nice. They were strung, so I don't know how much set they had, but it was likely quite a bit, since the outer edges of the belly were doing most of the work. It's probably no different than having a rounded belly and making the center do most of the work. Both should cause the bow to take some set and relieve some of the strain from the back.
Julian