I think that this bow is pretty impressive. While you did incur 2" of set, you've built a stiff handled red oak board bow drawing 50# @ 30", that is 64" long. That is a tad underbuilt by most standards, and pushing the limits of what Red Oak can do, but your tillering job was very good, and Red Oak can bend, so the bow held together. And for your second bow? I'd say - Well done!
Do you know if the board was plain sawn, rift sawn or quarter sawn?
Thanks,
Gabe