You'd mentioned the D-rings facing backwards being a bothersome thing for you -- did you stuff the bag with towels after dunking it and leaving them there while it dried? That would have poofed out the sides a bit. It's also possible the heaviness of the towels you're using to reshape the handle are pulling the bag slightly backwards as a result. Do they still face backwards after the handle-shaper is removed?
I agree with @coach943 that the bag doesn't look particularly dry at this point and would probably be fine with a couple coats of CPR spaced out over a couple days or so. That's all I've been using on my two rehabs thus far and the bags seem to look pretty good. (I need to do a coat of Blackrocks on them both and will then post my pics!)
I am wondering if the pictures shown, where taken before stuffing the bag itself, or if stuffed not enough to reshape those sides. I always stuff mine till there is no more room inside, then I press around the bottom where I see "bulges" not to stretch the leather any further, if the sides are supposed to go inwards or outwards is if course other consideration.
Funny I never have paid attention at how the D rings look like, maybe because they looked OK with the shape of the sides. I will pay more attention in the future.