The more weight you can get in the front of that arrow, the better penetration you will get.
I strongly recomend you read the Ashby's research that can be found right here in the Tradgang forums on FOC and such.
I have a 30" draw, I shoot 31.5" 55/75 out of a 62# bow with 200-235 grains up front (point wieght) to get proper tune. The shorter the arrow, the stiffer the spine of your arrow.
Google "Addock arrow tuning" and read that material as well.
The different tip weights are for the sole purpose of different arrow tuning, and in some cases, bigger cutting diamiter.
Good luck. It will take some research and effort on your part, but with enough patience your effort will be rewarded.
Take care,
Todd