Arrow spine is measured on a spine tester, which you can see examples of for sale at 3 Rivers and other places. A weight is suspended in the middle of the shaft and the amount the shaft is deflected is measured. It is supposed to give you an indication of what bow weight to use with that arrow, but it is only a place to start. I believe the measured spine is based on a 125 grain point on a 28" arrow. Your 200 grain tip would decrease the effective spine, while your 27" arrow would increase the effective spine. If your bow is not cut to centershot, you would use a weaker spine, but if your bow is a more efficient bow than the standard, you would use a stiffer spine. Your bow probably is a more efficient bow, because the standards for spining arrows were set many years ago.
Where this leaves you, is that in order to get good arrow flight, you need to shoot a bare shaft and adjust accordingly. The real use of the marked spine is that spines don't change, so once you know what you need, you can order it again.