I think bare shaft tuning is best done at 20 yards, or longer. Remember, with bare shaft tuning you are trying to compare point of impact with fletched arrows and make adjustments accordingly. Paper tuning with traditional bows can be done, but I think is better suited for compounds and release shooters. With traditional equipment there is a lot more pronounced movement going on than one will see with a compound and release. For example, some traditional bows are not cut to center meaning arrows shot from such a bow with have a good deal more paradox, hence a lot of lateral movement in the first few yards. Paper tuning such a set up might have you making all kinds of adjustments even though point of impact at 20 yards is perfect.