The lace is mended. It took about 9 hours, spread out over three days, with the most amount of time spent figuring out how to mend it.
Here’s a final photo of the stitches picked up on my little circular before I rip back to re-knit them. This was the smaller error, and was, as I suspected, caused by the two dropped stitches I found. The dropped stitches were on the row I had to pick up.