I can confirm that this bug is still happening. No matter what string is used, you get the Hemp string delay. I wasn't able to test this on the "high end" bows... but, I tried it on Hickory and Elm using all 3 strings and got the same result. Here is a link that shows the correct dmg/delay for classic EQ bows:
http://home.comcast.net/~aoenla/fletchguide/bows.htm
Thanks for all your work Devs!