You didn't ask if the weaker arrow had less velocity, you asked if the weaker arrow provided less resistance to the bowstring during the shot. Two very different things. The energy output from your bow is constant, assuming a stable draw length and good form. The energy absorbed by different arrows can be quite different.
Whether the shaft bends or not, you still have to accelerate it. Same weight, same mass, same amount of energy to get it moving to an identical speed. As O.L. said, the only way this changes is if your spine is so radically wrong that you pick up additional drag through excessive shelf contact. There are only two variables on the power side of the equation, stored energy and efficiency. There are only two variables on the projectile side of the equation. Mass and drag.
Now, things are a little different on the other end of the equation. When the shaft STOPS, less energy will be expended in the direction we want it to go (in the case of the lighter-spined shaft) precisely because of the bend.
The weaker spined arrow will have less velocity downrange because it is wasting more energy in paradox. BUT, if both are tuned to the bow, as you stated in your first post, the difference is going to be so small that you are going to have to get quite a ways downrange to measure it.