What does "Abraham's Bosom" mean?

Michael Patton recently posted on "Where Did Old Testament Saints Think They Went When They Died?".   I responded here. Patton's post sparked some discussion in the comments section about "Abraham's Bosom". A phrase found in Luke 16:22:

Now the poor man died and was carried away by the angels to Abraham’s bosom; and the rich man also died and was buried

The discussion led me to Patton's post The Myth of “Abraham’s Bosom”. Patton sees that phrase as relational and not as a place. I agree but I don't think that necessitates a 2 part Hades doesn't/didn't exist. I would like to expand on the idea of "Abraham's Bosom" as being relational. The phrase is also found in the ancient Book of Jubilees:

Book of Jubilees 22:26
And the two lay together on one bed, and Jacob slept in the bosom of Abraham, his father's father and he kissed him seven times, and his affection and his heart rejoiced over him.

Book of Jubilees 23:1-2
And he placed two fingers of Jacob on his eyes, and he blessed the God of gods, and he covered his face and stretched out his feet and slept the sleep of eternity, and was gathered to his fathers. And notwithstanding all this Jacob was lying in his bosom, and knew not that Abraham, his father's father, was dead.

Closing the eyes of a dead father, was the privilege of the first-born son. By having Jacob close his eyes when he died, Abraham is declaring Jacob as his firstborn. This has implications for inheritance as the first-born son received a double portion of inheritance.

I think it is likely that Luke's readers were familiar with this story and recognized that Jesus was saying something about Lazarus' relationship to Abraham and possibly suggesting that Lazarus would receive an inheritance at the end of the age.

The phrase "sleep of eternity" is also used in the Book of Jubilees. Does this support the idea of soul sleep? The phrase "gathered to his fathers" is also used. Gathered where? Does this support the idea of a conscious afterlife?