If the bark will peal off, I would get it off the log. It will be a lot harder to remove after it sets up on there. Once you remove the bark and cambium layer, you are looking at the back of your bow. You don't have to chase a ring or anything, just use the outside of the log. As far as sealing, the last hackberry I cut, I sealed all the ends and the backs of the staves except for a couple. The ones I didn't seal had a few small checks in the ends, but nothing major and the backs were fine. I kept them out of the sun and out of the heat so that might have helped prevent checking. To split the log, you will need a large hammer and some wedges. I start the split with a hatchet and then use the wedges from there. Good luck with it.