It's been a while since the last post on this thread so I'm not sure if it's still up and running but to all the good ideas that have already been posted I'd add the use of fast flight string. There are plenty who are cautious of this damaging the bow, but I've found it fine if the string is properly made. But as ff will cut into many woods, horn nocks are a must.
It's worth taking a look at the laminates you're putting into the bow. One suggestion is:
For the backing use American white ash, available everywhere and cheap as chips
Thick core of western red cedar or similar light wood
Belly of lemonwood. If this is split into two and the middle part substituted by purpleheart (second core), cast will go up and looks good too.
Inexpensive mixture of woods to make a bow that easily reaches a gents clout at 40lbs. Not everyones choice of woods but based on bows that hold a number of flight records, so worth considering.
BTW what bow weight/draw length had you in mind? and it's a help if you have the means to taper the cores, but it's not essential.
David