Welcome to Pet Talk JoAnn!
Have you thought of taking Bailey to puppy kindergarten? If nothing else, it will make him tired from playing with other dogs, give him a good start in relating to the other pups, and burn some of that puppy energy. The trainers I've known said that a good age to start obedience school is between 5 and 6 months. Since he already knows some basic commands, you may be able to take him to school earlier
Have you ever had a puppy before? Everything is so much fun for them Give him time to settle down. With patience and training, I'm sure he will become a very well behaved friend.
Good luck and let us know how Bailey is doing.
Do you have any pictures?