Agreed about the tightness in the vamp. They should eventually stretch enough to accommodate a 3/4 length insole. I still have a little tightness on the top of my right foot, since I have ridiculously high arches, but I'm pretty confident that will go away with more wear.
Are you planning to use anything to protect the leather? It feels more like nubuck than regular leather, so it doesn't seem like Obenauf's is the best choice.