I have been bowhunting for about 20yrs and have recently become interested in the traditional aspects of the sport. I have been shooting a friends 60"55lb @28 recurve and it is wearing me down. I need to find an affordable 40lbs bow and also need help on traditional arrow selection .Your experience and help will be appreciated.

Welcome to tradgang Capt Dave.   Check out the classified section first and see if there is something used there that strikes your fancy.  You need to be a little more specific on "affordable" cause there are affordable bows that start around the $200 range (Maddog archery) and go upwards of a $1000 in the affordable range (multiple bowyers)...   ..you need to tell us about your draw length and are you going to shoot carbon, aluminum, or wood.  Sit back and wait awhile, and you will get plenty of advice to get you started!  

I'm looking to spend around 300.00 I'm drawing 28", will probably stay with carbons.Arrow selection for traditional gear has me stumped, I always been focused on speed and shooting 315fps with a 385gr arrow got me the kinetic I needed. Getting the weight right shooting lower speeds is proving difficult. recommend some arrows for me. I'm really wanting to get soething around 60" 40-45lbs @28". thanks

I think you will be able to find a good bow in the classifieds. I'd get your bow first, then worry about finding some arrows that get you close. search for Stu Millers spine calculator in the pow wow. Play around with it and it will get you close. Good luck in your quest for the right bow!

Also if you think of hunting with the bow, make sure that the 40# is legal in your area, I know in mine, it as to be 45# or more!!

45# is a good starting weight but you will get used to it pretty quick so i would start with high 40# even 50# just to save u from buying a new bow in short time.
50# is a great all round bow. modify your arrows to suit your need.
Tommy