Normally people will add their ballast to the rear of the boat until either the wake crumbles at too low a speed and/or too short a rope, or they have bow-rise problems that complicate getting on plane, seeing over the bow, or for us at least, make speed REALLY hard to nail. At that point you start adding some to the bow to delay wake crumbling or reduce bow-rise problems.
If you're not having the crumble problem, the bow weight won't help your wake, but it will make the boat plane quicker and have better speed stability.
I put that weight all the way up underneath the little center bow cushion. Might wrap them dumbells up with a towel or something to cushion the fiberglass.