I think this might be of interest here.
There is an Italian guy, Dario Bressanini, who is a sort of food scientist. He has published a couple of books on the subject of the science of foods, and he has a VERY interesting video on YouTube where he describes his take on the scientific principles of making Lemoncello: THE SCIENTIFIC LIMONCELLO (just in time for Christmas)
The video is in Italian, but it has English subtitles. At least in Italy he seems to be a rather famous person, and the video too seems to be rather popular. I'll give here some of his insights, which I think are quite interesting.
(1) The recipe calls for 40g of lemon peels for each 100g of 95% alcohol (note he prefers to use weights in his recipes),
(2) Optimum extraction only requires from 1 to maximum 3 days. After only 1 day you get the most delicate flavor, and if you wait 3 days, you get a more typical limoncello flavor. After 3 days you start to get off-flavors. He cites some scientific papers to back his conclusions, and his own personal experience. I thought this was most interesting!
(3) If the extraction is carried out by placing the alcohol/peels in a 50C (122F) water bath, extraction time can be reduced to just a couple of hours. In his example, he placed the container in the warm water, and turned the heat off, waiting until the water reached room temperature (see at approx. at 15:57 in the video)
(4) The extracted essential oils are sensitive to light, and they are sensitive to acids; therefore, adding lemon juice to the final product will diminish the shelf life of the final product.
(5) The turbidity that you see in Lemoncellos is caused by the extracted essential oils being emulsified and it's characteristic of lemoncellos.
Where I live (in Panama), it's rather difficult/impossible to find 95% alcohol sadly. So, I've used vodka instead of 95% alcohol to make the lemoncello. It works ok, but when using 40% alcohol to extract the essential oils, you don't get the turbidity characteristic of lemoncellos. I'm not sure if it is because there is quantitively less extraction of the essential oils, or if it's because the essential oil emulsions somehow are not as visible; although it seems to me that the most probable reason is that there's just less oils being extracted. The other alternative is that I'm doing something wrong

Hope this is of interest to you guys!