It depends what you want the bow for...
I'd guess a bow with that much character isn't likely to become a hard working hunting bow I'd think it's more for challenge and for show (I may be wrong).
It's about how it bends... is that area flexing at all, because it should, same as the rest of the bow. But it's never going to be a highly tuned flight bow.
Thickness is the main issue, , try to get the general thickness similar to the wood above and below the knot.
The bulky ridge is interesting... can it be taken down a tad, or should the belly be shaped in to match that ridge. I'd favour carving into the belly to match the shape of the back. But don't over do it and create a cavity that can collapse
Del
