Congrats on entering fatherhood!! I still remember when I first became a daddy. Now the girls are 10 and 12, time flies. It was the best thing that ever happened to me and probably kept me from doing a lot of dumb things I would have done otherwise.
I can't imagine anyone would have a problem with you being a little late on delivery especially with your excuse being such a good one. As was already stated, "better to get a good bow late, then a rushed one that's below par". Your updates also make it clear that you should have a completed bow before long next year's trade rolls around. I'd wait to hear from stuckinthemud for your final call on the matter, but if I'm your victim I have no problem waiting.
Update on my bows: The elm was adjusted again, clamped to my newly built caul and has kept the shape. Final tillering will start this weekend. I've decided to finish the 3 piece takedown as well and see what the final product looks like before I rule it out. I also started to rough out an apple wood stave I harvested this winter. I doubt it will be my trade bow, but who knows. I figured I'd mention it just in case.