Well, I know what I could get away with if I was working high altitude Italian Yew, but I've never handled American. The problem with the big knot is that the grain within it runs at a different angle to the rest of the stave, and also the wood within it is very dense and relatively incompressible - so you are asking the sapwood to bend around an incompressible lump that, unlike the timber in the rest of the stave, will barely give - could in fact break along the crack-line (yes try industrial epoxy resin). However, I am continually surprised at what Yew can tolerate, and American Yew is a good timber so all I can do is suggest trying it. Take it very slowly on the tiller to get the initial bending, then relax it and leave it 24h then bend a bit more. I personally take about a week to properly tiller a self Yew bow. As with the tillering of a laminate bow, the initial bending should start about half way along each limb and the middle of the bow should be coming round gently when the bow starts to reach the maximum draw-length. Don't forget that the lower limb should be fractionally stiffer than the upper limb; no matter what people may say, a self Yew bow is not absolutely symmetrical.
Have fun! Dave