I would venture to guess that the bike may be one size too small which is why the saddle is place so far back. Also, the neutral grip of the bullhorns is on the flat part, not the tip.

Another *general* rule of thumb is to place the handlebar in or near the line of sight to the front axle. If the bars are waaay in front of the axle, stem or TT are too long, and vice-versa. This becomes an issue when out of the saddle sprinting or climbing as too much of the weight is over the front wheel tipping the balance point.

Also, it doesn't make much sense to stack a stem high just to run a downward shaped stem. The stem is most stable when it has no spacers and is against the headset...even if it's pointed up.

Further, the bullhorns should be shoulder width apart (the bone socket). Bars that are too narrow will restrict breathing, too wide are uncomfortable.

Do your knees hit the back of the bars when sprinting/climbing? If so, that's a problem.

As ichitz says, if it feels right, it's right. But, I'd venture to guess that if you got on a better fitting bike, you'd get more power more efficiently from your engine.