I'm assuming you are using 400 spine arrows. 3 Rivers lists them as 13.5 gpi. With that, and Stu Miller's calculator, I come up with 564 total grains, close to what you report.
I'm assuming that with 29" arrows, your draw is 28". I also assume that the bow draw weight of 53# is 53@28".
With these assumptions, your arrow should be tuned quite well to the bow.
Having a tuned arrow is more important than either a heavy arrow or a high FOC arrow. So, if you still want a higher FOC, you would have to get a stiffer arrow or maybe build out the strike plate.
Perhaps others can suggest different ways to increase FOC and still remained tuned.
Personally, I would hunt an arrow like that for deer, elk, or Kudu any day of the week - so long as I was certain that it is tuned. It should go cleanly through any of those animals.
Others like either heavy or high FOC.
Shoot bare shafts to see if they fly with the fletched arrows. If so, then shoot broadheads (with fletching) and target arrows to see if they fly the same. If they all fly the same, you are well tuned.