Drying time will depend on thickness of the stave and the room humidity of the area it is stored in. I found the best way to dry a stave was to buy a humidity/temperature meter. These can be quite cheap especially the analogue versions.
Work the stave to the stage where you will just begin to tiller but leave the width full width the whole length of the stave. Then put your stave into a place that is pretty stable temperature wise, not a shed or garage but a room in your home. Then use this guide...
http://paleoplanet69529.yuku.com/topic/6255/Equilibrium-Moisture-Content-of-Wood-at-Relative-Humid ... and you should be good to go after a couple of weeks.
Aim for about 9% wood moisture content. A percent above and below won't hurt but not much lower as the wood can get too dry and snap. You are OK going higher but what will happen is you will get more 'string follow' the wetter the wood is above 10%.
The good thing about using that chart, if you know the temperature and room humidity is more or less constant, after a few weeks drying in this place the wood will settle to the moisture level stated and only gain or loose water again if the temp and humidity change a lot.
No need to back as Dwardo said, I would go for a 'mere heath' design for a first bow 68" long and with limbs 2" wide most of the length tapering about 12" from the ends to 1/2" tips. Depending on the wood you will get a safe weight of 50 or 60 lbs, more with excellent tillering.
Have fun,
Steve.
