Skinny shafts have a higher sectional density (yes...a bullet thing for you rifle shooters & reloaders out there)
By definition Sectional Density is the ratio of an object's mass to its cross-sectional area. It conveys how well an object's mass is distributed (by its shape) to overcome resistance. For illustration, a nail can penetrate a target medium with less force than a coin of the same mass.
Given that last sentence above, I would prefer to error skinnier (smaller dia.), obviously, for penetration...no cost in this, plus several other benefits to boot.
If the argument is "can I kill a deer with a "thick" 23/64" shaft" the answer is yes, absolutely! I have done it a bunch times and so have you. So rest assured and shoot "thick" or "thin" for deer...you can be successful with either.
"Do I think skinny shafts out penetrate thicker shafts, all things being equal", yes! I am a man of science.
"would there be any real difference between the penetration of a FMJ and a XX75 2317?"In theory and evidenced through testing, yes! Again, Ashby has data showing this conclusively but people really have a hard time believing it. So you decide.
Kris