I like wood arrows, primarily POC, but plan on trying some Hildebrand spruce before too long.
I shoot them because I like them--they are quiet, forgiving, and I don't break many. Most of my shots that break a wood arrow would ruin an aluminum or carbon. I love the way they look, and when I have the time I love to make them. I don't have to worry about whether or not a particular tournament will allow me to shoot them in my class. Howard Hill, Ben Pearson, Fred Bear, etc. proved time and again they can be shot as accurately as any. They do take a bit more work, but so does shooting a traditional bow--I didn't get into this sport looking for shortcuts.
I hunt, practice, and shoot 3-D with the same arrows--minus broadheads for tournaments and most practice shots. I do have my heaviest shafts set aside for hunting, but they are the same wood as the rest.
FWIW, I have shot carbon and aluminum in the past, and it wouldn't kill me to have to go back to either one in the future--but I think wood will always be my favorite.
Chad