Ah! Your doing that thing of changing from one question to another!
1st question was how do you avoid set, but when I say make it long, you are worried about it being slow!
I think you have to solve one problem at a time.
There are plenty of inter related factors, and it's a matter of balancing and optimising them.
The fastest bow will probably have a bit of set and may have a short life. The bow with no set may well be overbuilt and sluggish.
The 100# Elm warbow I built shot over 300 yards, but that was with a light flight arrow which rather jarred my elbow ( I have some tennis elbow)... So I named the bow "Dennis Elmbow"

40mm is probably a sensible maximum width, but with a rather rectangular section, the corners (even when rounded ) will be uncomfortable in the hand, and that's (IMO) what is often mistaken for hand shock.
So, sorry, but no simple easy answers I'd suggest Lemonwood backed with Ash (edge grained like this ||||||||||||||| ) might be a better combination.
Your assumption about length is right, but of course it also depends on draw length.
I have experimented with short ELBs for flight purposed... one got name "Ill Bastardo" as it kicked like a mule, was short draw and left some hideous bruises on my mate JT's bicep... it was fast but short lived... it did have some set.
If you cant find Yew stave , maybe you can find Yew heartwood to back with Ash or Boo, which will make a good fast bow.
Good luck
Del