Bob, for bowfishing you need solid fiberglass fishing arrows with indestructible slide-on plastic vanes ..they are heavy and you have to get used to them, but they wont deflect as much on contact with the water and they wont break every time you hit a rock on the bottom or a big fish gets frisky with your arrow sticking out both sides. Also note that fishing arrows have a hole in the shaft just front of the nock AND a hole in the steel tip. Always tie a knot in your line about 36" from the end, run the line through the hole in front of the nock up to your knot and then knot it snug against the shaft through the hole in the steel tip. If you want to use a spincast reel like a Zebco, you probably want to use a heavy braided "leader" at the arrow and tie that into your monofilament about 1 foot behind the arrow.
As noted above, I'm old school and use a drum-type reel and #8 floating fly line..its nearly unbreakable, easy to see, floats on the water which minimizes tangles. This set up is great for carp and small gars but wouldn't work for big game like stingrays or alligator gar, where you need plenty of line to fight a big fish.