After nearly 15 years bow hunting, I'm switching from .264" (GT Hunter Pro) to .204" arrows. I considered going .166" but did not want to mess with halfouts. I'm short draw and always trying to improve penetration. My current set up is a 495 grain total arrow weight at 250 fps. That arrow weight comes at a cost of trajectory that makes yardage judgement paramount, especially when shooting in the timber.
This year I'm saving up and building out Victory RIP TKOs, with a TAW of about 445 gains and speed should be around the 260+ fps mark, 16% FOC. Podium archer HIT inserts & collars, Flex Fletch 360 vanes, AAE IP5 nock and a Grim Reaper Micro Hades Pro. It won't be awesome at all things, but it should come close to Goldilocks enough in most things to be a good, reliable set up for my elk hunting. And bonus, a trajectory I have liked better in the past.
My bow is old (2011 model Bowtech Invasion, 26.5" draw & 70lbs), but getting new strings and cables. I'll be resetting the rest for the new arrow.
My expectation of this set up, a relatively quiet and very stable and well corrected arrow with great odds at a pass through with great shot placement of course, is the hope.
I think often like all other areas in life, my expectations of my equipment are built on my limited knowledge, rather than the equipment itself. Trial and error is a great instructor and we've never lived in an age where so much info can be learned before investment as we do now.
What's the old adage? There is no perfect answer, only the compromise you are willing to live with, I believe.
Perhaps 4mm vs. 5mm vs. 6/6.5 mm arrows fall along those same lines?