Wood shafting, comes in these basic sizes 5/16, 11/32 and 23/64.
Most guys IMHO shoot 11/32,
Tapered shafts usually mean the last 10 inches or so of an 11/32 shaft is tapered down to 5/16.
It puts most of the weight forward in the arrow.
There is a taper tool which is commonly sold which grinds the nock end and also the point end.
I use fletch tite which requires heat to put on the points and usually duco glue for the nocks.
Fletching them your self is rewarding, buying feathers full length by the hundred count will save quite a bit of money, with an investment in a feather chopper (style your choice) of course there is the straightening, and sealing and painting the shafts which all fills the bill for me personally.
Also the tighter the grain generally the higher the spine.
These are a few of the basics but by no means all. Have Fun