That might be the problem. I've measured the distance (brace height) and I only get 3.5" This however, is how it came delivered to me. So I guess I need to back that up to about 6.0" (at the very least)?

EDIT: I found some documentation for my bow, and it says a Brace Height of around 6.5" is the norm. So I'm going to guess that was the problem. We'll find out tomorrow when I get some time to shoot again. This might also fix my second problem. We'll see!