all of the above charts show formulas and projected energy, but if you want to know what will really happen then test it. i did this for my sons science project recently, showing 300, 400, and 500 grain arrows of similar construction, from a wheel bow to a consistent draw, from a set distance. we measured penetration, avged 10 shots from each group, and heavier won.
you have to apply intent into the equation as another variable that you must interpolate intrinsically, meaning...we all know that the extremes on both ends of the above projected resultant energy charts are not useful hunting applications (example when the 220 Swift first came out, some idiot publisher touted that it was so fast and produced so much KE from speed that you could hunt lion with it...i'd like to see that...also on the opposite end of the spectrum pure weight alone won't do it either)
so analyze for intent...you must hit the animal, which is aided by speed and its affect on trajectory, and once that is accomplished you want the benefit of weight.
maybe i just oversimplify things...but i have never seen the point in this argument...shoot the heaviest arrow that you can that allows you to fall within a viable spectrum of velocity (and if the result is not acceptable then you must change the platform, ie increase pull weight, etc). if possible actually test and manipulate both variable to optimize both...there is an optimum in the middle somewhere