I made a router shaft machine a few years back. It turned out really great arrow shafts but I had trouble getting good arrow wood to run through it. The best wood I found was tight grain doug fir from Lowe's. I would get 13 shafts from a $6 board, the problem was I would have spines from 40 to 60 from the same board.
Back then you could get a dozen matched shafts for $12-$15. I quit making shafts and bought them, much easier.
I also went through my poplar dowel phase. I would start with a 3/8 dowel, barrel taper it and sand the middle to get the spine down. I made great arrows but the process was very labor intensive.
I went through my cane shaft phase as well, made great arrows but again, very labor intensive.