Dip,

I wouldn't get real concerned about the high elbow for now.That can be straightened out by using s loop or a slightly longer one.Frankly I think the draw length of the bow looks pretty close in the picture.

Without getting into drastic changes I'd be inclined to move the peep down on the string about 1/4" (maybe a little more with experimentation), which will raise your anchor some. This may also change how the string touches your nose, in which case you may actually have to shorten the bow just a tad by twisting the string. It will depend on how it feels to you.

But frankly, I'd do as Paul suggests and strip it down and stsrt all over again. Line things up well from the git-go. But then I don't mind stripping things down and playing. I find that more fun than just shooting all the time.