I would encourage you to read Ashby's study and it will answer a lot of your questions. That said, working toward the optimal set-up for your individual bow, shooting style, etc, will take some patience and tuning. I'd recommend that you take a look at OL Adcock's site on arrow tuning to enhance your knowledge.
By way of reference, I generally shoot 45#-47# bows @ my 27" draw. My arrows weigh about 490 grains...with 220 grains of that up front. I have shot completely through everything from mature mulies to javelina...with lots of critters in between. Years of this kind of performance have made me a believer in high FOC arrows.
Claudia