most consistent arrow wood i have found is sitka spruce- all within a few ponds of each other, want greater spine- just up the diameter!!
a bit tougher to make in a spin type doweller, as the interfiber strength is so high, that if your tool is not razor sharp, it will rip fibers up from underneath.
have seen nice dowels /shafts made with a router, and i am sure hand planing will be just fine!