Will time help calm fermentation by-products?

I made a batch of all-grain ale and put it into my primary (6 gallon glass carboy) on Monday. I have been monitoring the room temp and it seemed to get a bit high for my comfort (73 - 74F) so I decided to give my first beer lots of love and wrap him in a towel in the bathtub with a fountain pump to recirculate the water over the neck of the carboy. (I also added algeacide to the tub water to keep from growing any unwanted critters between water changes in the bathtub.)

I figured there would likely be some unwanted fermentation by-products with the higher temps. I am planning on keeping the carboy in the tub for 3 weeks then bottling (no secondary planned). Will this help to "mellow" this batch out a little bit?

About how much temp difference will the improvised water jacket buy? My water in the tub is about 70F. I will also start freezing some 1/2 gallon milk jugs filled with water when I free up some space in the freezer...

So far, no worries. The beer has a nice foam on top and it seems very happy with the airlock bubbling away. It is still hard not to want to stir it daily like I do with my mead... The instructions said to leave it alone in the dark and that is what I am going to do...

73-74 isn't too bad. You probably didn't get any high-weight alcohols and it's close to done, depending on the yeast.

yeah you should be good. and DO NOT stir is. you don't want to oxidize expecially after fermentation is over. It's getting mixed enough from the yeast activity.
Don't just let it go 3 weeks then bottle. Use a hydrometer not a calender. Once it's done fermemnting (reached targeted FG and/or 3 days of consistent gravity readings) let it sit another week. This will let the yeast do their cleanup. They do much more for beer than just turn sugar into alcohol. They will go back in and clean up after themselves if you give them time.

Yup! I got my OG with this batch so I will be taking 2 - 3 days worth of measurements to make sure that I have finished fermentation...

Thanks for all of the input! I will put it to good use...