BassBow, it is my opinion that momentum is much more important than KE where hunting is concerned.
That said, while calculators are great, there is no substitute for a quality chronograph and grain scale.
To date, all of my testing, and I have done a LOT of it, has been with compound bows. I will get around to doing a bunch of testing with trad bows since that is all I shoot now, but I am already confident that the results will be the same…….
As long as the arrows of varying weights are tuned for your bow, heavier will ALWAYS yield more KE and momentum.
I have never found a single instance where a heavier yet slower arrow made less KE than a lighter/faster arrow.