by stakes i don't mean intent, or goals but the actual poker stakes of chips.  in the new revenged version, you are able to set stakes as chips, and earn some back from the bank if you win, but it doesn't suggest/say when those chips should be wagered. 

in 'real' poker, you can wager before and after the draw.  but there's an order to it, and you aren't just playing against one opponent (the bank) but everyone at the table. 

my instinct says, 'declare/wager your stakes/chips before the draw.'  i'm not sure what's cannon, though.  i'm not sure if multiple stake raising is fair or smooth for gameplay.

 

The only important distinction for stakes is that each player must declare them before The Call.

You could certainly do a two-phase Stakes-setting process like you describe.

I just simplify that process and let people set stakes any time they want before Call. And, practically speaking, that's almost always after The Draw and the player knows what his or her hand is.

cool. thanks. playing the new rules for the first time tommorow and i'm psyched

Excellent! I'd love to hear how it goes for you. Hope you and your group enjoy it!