I have just been through the same process. I have made two sets of wood arrows now, both POC. Though the google videos are helpful, I recommend reading the websites of the custom arrow makers such as Wilderness Custom Arrows,etc. I started simple with shafts from 3Rivers, though several other makers such as Rose City have carefully selected, spined shafts which are nice. I think, in my limited experience, that starting with good shafts is the key. After you read several of the how to tags on this site I think you will agree. Once you have a good set of shafts, I would start with a simple stain of your choice, then use some Gasket Lacquer with the dip tube from 3 rivers. Very easy and dries quickly. Pick your feathers, I would recommend left wing with color of your choice. The Bitz fletcher is great, I started with a Martin J8? but the Bitz is much better. I used Bohning fletching tape, very fast and once you get the hang of it very easy and quick. A little glue on the end of each feather and that's about it. I do like the classic look of glue on the feathers but it takes longer. I think most guys cut their tapers before staining and dipping, I used a simple "pencil sharpener" taper from 3R and it worked fine though I think for more money you can get better. The Ace Roller Straight is a great tool for straightening your arrows. I tried to straighten mine about three times before staining and then I used it one more time after dipping the lacquer and fletching. For length of arrow, maybe start with Stu Miller's chart which is great. It should get you close, but maybe leave the arrows a 1/2" or 1/4 " longer than recommended so you can cut them shorter if needed. Once you get the hang of the basics then maybe a crester tool for more advanced designs. I haven't gone their yet because I like the simple look of the stain,etc, but they do look nice with cap dips and cresting. If you want a cap dip, my experience with spray painting wasn't great but others have had great success. I think a cap dip (using the shorter dip tube from 3R) with either gasket lacquer or latex paint would be fine to start with. You then can dip the stained/capped arrow with the Gasket Lacquer. I am a complete novice but having gone through this recently maybe this will help some. Please also make sure your broadheads are mounted straight and correctly as I found out the hard way how bad it will make your arrow fly. A good broadhead wrench will help a lot and read the tags on this site on how to check for true spin after mounting! Good luck and keep me posted..! V/R..
J