Where do I find the patch count for this bow? Does it look like it's high?
If you Right Click in the Modeling window and select Info you'll see your patch count there.
You could probably do with fewer patches up toward the ends of the bow and rely more on the bias of the splines. For my part, I would reduce the number to facilitate animation as you'll be able to more naturally bend the bow with fewer sections divided along the curvature of the full length splines. Splines excel at bending and you can take advantage of that. A reason to use more patches would be to maintain the same or similar decal sizes.
I should say... if you do adjust this bow to reduce the number of patches save this one to a safe place first!
Reducing the patch count you'll lose some of that hand-crafted imperfect curve toward the ends of the bow and that may not be what you want. If the curve is too perfect you may end up wanting to return to the original bow.
Now for the age old question of the string. I'm thinking a long tube with a tiny diameter. Do you think I could get away with a 2 point circle and then extrude it? Maybe 4. Guess I still need to add the arrow rest.
You can't really do a two point circle... if you are wanting to go minimal, three would work. You'll need three sections to the length of the string at a minimum but I'd go with four... the two sections in the middle to define/animate the pull. If you only have three then there'll be no way to represent the contact with whatever is pulling. You'll want that section to be as wide as whatever is pulling.
That's a great looking bow!