RE: Not good!!
Can you post any pics of it? Stuff comming off the sides sounds alot better than delamination from front to back. You may be able to use a little superglue and wrap the limb to get you through. I'd have to see it to let you know what I think you should do. I'd guess you've got alot of use out of it and if you can fix it you could have alot more.
Also what are the specs on the bow. I might have something to get you through the season. (if you need it)
Jason