I shoot pretty close to that. Since you stated your bow is cut to center, but not past center, and you will be moving the arrow away from center by .124, it would seem that a slightly weak shaft would be called for. At your 29” draw, you will be drawing about 40# on your 38# bow. I would recommend a .600 spine Gold Tip Ultralight or similar shaft that weighs about 5.9 grains per inch. You might want to start at 30” rather than 29.5”, and try a 75 grain tip. This should give you an arrow weight of about 300 grains, or 7.5 gpp, which is about as low as I want to push it on a modern bow, and an FOC in excess of 10%. From there, you can experiment with cutting the shaft back to 29.5” and/or upping the point weight to 100 grains to see what gives you the best arrow flight. You could also experiment with a 50 or 65 grain point, which should still give you an FOC in excess of 10%, but will drop your grains per pound below 7.5, which may or may not be acceptable to you.