Steve:
I agree with you, that more than a few hunt with 8 grs/#, however when they hit something a great deal of them are not too happy, you only need to watch a few of the wackem and stackem shows on TV and see very poor penetration to understand what I'm talking about. Arrow ballistics are not much different than bullet ballistics (In how they work). both trad guys and compounders tout how fast their equipment is through a chronograph, and fail too take into account that a heavier arrow will retain its velocity longer than a light one. I did some tests several years ago using a 57# recurve and a shooting maching and two different arrows properly spined for the bow. I shot each through two chrono's 10 times then reversed the chrono's and repeated the test. the arrow weights were 450 grains and 620 grains. the 450 grain arrow lost 14% of its velocity in 16 yards and the 620 grain lost 7% of its velocity in the same distance.
I don't have the figures in front of me, but I believe at 23 or 24 yards the velocity was so close to each other its not worth mentioning, and there's 170 grains difference. Another advantage to arrow weight is it quiets a bow down.
I do however believe there is a point where too much arrow weight you loose efficiency.
Bob