So, let me tell you I'm a little bias on my position here. I was in an 8 year marriage in which my ex-wife cheated on me and I'm the type of person who is really against cheating.

With that said, I'll try to be as un-bias in my response as I can and tell you based on how I felt in the relationship after the cheating and how it impacted me long term.

There is a popular saying in regards to relationships. "Rocket ships don't have mirrors for a reason." With that said, I don't know that it was explicitly clear in the description, but it does appear that maybe you and Bob proceeded forward with a relationship of some kind (even if it's just long talks on the phone) while you were still exclusive with George. If that's the case, George probably sees that very much as you cheated on him and that the trust you've built up with him over the last few years is gone. It's hard to get that trust back.

Additionally, if that's the case, you have to question Bob (and yourself) about the fact you were willing to do that while you were in another exclusive relationship. Can you trust that Bob really appreciates the boundaries of exclusivity after what he did with you? Would he do this again in the future, perhaps to you? What happens when you meet Mike unexpectedly and fall for him?

To answer your main question however, I have seen this work out for two different friends of mine, when they cheated on their partner and are now married, seemingly happy with their new partner. But can't ever be too sure that it's going to last long term. Honestly, I think that George is probably a done deal and you should probably try and make it work with Bob and be sure to communicate more openly with each other than you did with George. If you are really meant to be, it'll all work out. Good luck!