I tried that method that hill used and I had absolutely no luck with it. I like to focus on the spot and loose the arrow. I do better that way,and it much simpler than try to have the arrow tip to confuse things,and trying to know the exact yardage. Dr.Stacy Grosscup said it best.Your brain is the greatest computer ever built.
You will automatically adjust for yardage if you concentrate on the spot you want to hit. Which is why we can point at something,and our finger will be aimed dead center of it.
Stacy could shoot aspirins out of the air,hit thrown targets while he was running,stick one dart into another time after time from his blowgun until there would be four or five darts stuck together. The man knew how to shoot instinctive.
I try to avoid anything that makes it harder than just pointing my finger (the arrow) at the target and shooting it. That's what works for me.