Well, one function the bumps or humps in the middle do are add weight.
I am a big believer in heavier knives for throwing (within limits of how heavy of a knife you can throw).
They would also have the effect of changing the balance point of the knife, and moving more weight to the middle of the knife.
If I was making the knives my self, especially if working with limited tools, I would not worry too much about trying to make the knife look exactly the same.
I have two CS knives I use for throwing ( and 2 of their hawks, and a Poll axe from them, and Bad Axe, and special forces shovel, as well as some other knives I throw).
All work great.
On a side note, I also have 5160 bar stock that I have finished one knife by hand out of , and have another two in the works. Did it all with hand tools, and heat treated in a coal fire with a fan for oxygen, and oil quenched.
Where you want the weight in the knife in some part determines what kind of throwing you want to do. I have been throwing more and more no spin, which seems to work better with more weight in the handle.
Standard throwing, you may want more even balance between bland and handle.
I also tend to like longer throwers as well. The longer the knife, the slower it will spin.
I have a pro flight II thrower from CS as well. I would like to try one of their perfect balance that look like primitive clip point bowies.
on a side note, Nice Bailey in your avatar pic. I love his knives (don't own one, but want to). His sheaths have gotten so much better over time as well. Really love his stuff!