Hey folks!  I've finally gotten around to having a bit of time to work on my first Osage self-bow with the lumber I got off my aunt and uncle's farm in Indiana.  The best stave I've got is still going to be a tricky one, though, and I could use some advice.
Here's the stave as of yesterday:


As you can see, it's got a big knot near the bottom and some twist throughout.  I can work out the twist with some heat-treatments (at least I'm hoping I can), but I'm worried about the knot (and the other smaller knots and pins.  I've seen a lot of character bows where the knots have been punched or drilled out to create holes in the bow instead.  Is this the right way to go?  If so, should I be charring the inside of the hole to strengthen it or something like that?  I've only worked with oak, hickory, and maple board-bows in the past, so this is a whole new experience and experiment for me.
Any and all advice is appreciated.