Yes. There are many sources of knowledge with which Latin scholars have reconstructed the pronunciation of Latin. W. Sidney Allen gave one reconstruction in his Vox Latina.
1. Latin grammarians of the ancient world left a lot of detailed information about the sounds of the language through their teaching of the language.
2. The ancient Romans didn't get their spellings from any other languages. The Latin alphabet was more or less phonetic.
3. Transcriptions into Greek often pin down the original pronunciation of Latin quite nicely.
When Romans misspelt, say, "ae" it came out "ai", so we have no trouble to reconstruct this particular sound. Since "ae" and "e" are distinct, when the Romans changed their orthography from "ae" to "e", Latin scholars can detect such change and pinpoint when the sound "ae" changed. This applies to "v" and "w".
Anyhow, the Roman Catholic Church existed at the time when Latin pronunciation was rapidly changing, so it's not surprising that Ecclesiastical Latin pronunciation is different.
Classical Latin pronuciation is different from Ecclesiastical Latin pronunciation. In Classical Latin pronunciation, the "v" is pronounced like the English "w". Contrariwise, in Ecclesiastical Latin, the "v" is pronounced just like in English.
Ancient Romans pronounced the "v" like the English "w", but their pronunciation was changing rapidly towards the end of the classical period. This somewhat explains the Ecclesiastical Latin pronunciation.
"To err is human" is too famous to miss. "Therefore, right now there's nothing to be despaired, my (female) friend".
If you're learning Latin first, then learn other languages, then you'll be in better shape. The skills acquired through learning Latin will help you with all the Romance languages, and beyond with other inflectional languages other than English.
I look forwards to reading more of your Latin posts.
Btw, AllBlue, if you put the macron on the right vowels it'll not be necessary to indicate the stress, as it can be deduced by reading which syllable is long and which is short.
To write Latin words with macron, check out Insert > Symbol > Latin Extended A and B in MS Word.