Just my opinion here, but I like carbons better for your situation. Being new to traditional archery you are likely to miss a little bit more than guys who have been doing this for a long time. Carbon arrows are less prone to breakage than aluminums. Also, carbons are not tough to tune at all. Simply pick a good length, then move up and down in tip weight until you have a good flying arrow.
Despite what the chart is telling you, with your 40# limbs and 29" draw length, you will get good flight out of a 500 spine carbon shaft with a 125 grain tip. I have a 45@28" recurve that shoots Easton Power Shafts in 500 spine with a 125 grain tip really well. My 53@ 28" recurve shoots them fairly well too, drawing both bows to 29".
Another fairly inexpensive shaft is the Gold Tip Classics. My 53@28" bow loves the 55/75 shafts with a 200 grain tip…..shafts cut to 31" for a 520 grain total weight arrow. Might be too stiff for your setup, but the 35/55 shafts should work fine.
Good luck, and be sure to have FUN!
