Just wanted to give the latest. I had an appointment with my midwife yesterday and we talked about the ultrasound results. She had spoken with the doctor about the report that morning and confirmed everything. Not only did the placenta move but the doctor no longer considers the cord a velamentous insertion but a marginal insertion which is less risky. That combined with the placenta moving and taking the cord with it we are a GO for a vaginal delivery! Yay!
I hope that no other problems will pop up and that the baby will turn but for now at least it seems as if the worries regarding placenta and cord are a non-issue.