Adam, yes, yes and yes! First year building and shootin, rivercane. Love'em! They are durable and versatile. I also like to use 3/8 dowels, ramin wood, from the hardware for squirrel arrows. I leave 'em long and you can pratice planing them down to a size and more shootable spine for your bows.
And as for cutting arrows from planks, My first set was from a board of fir, tight grained that I had leftover from a shed project. Sawed and planed into 6 shafts that went hunting with me that fall! Great way to experiment, try footing, nock tapering, barrel tapering and have fun!
I remember Louie Armbuster of Zebra longbows had said, he needed some arrow shafts for tournament shootin, short on cash, so he tore out some window and door moulding. Fir moulding, and planed him some arrows! Good shootin, Steve