High FOC has another overlooked advantage as well: stabilization. Ultra-FOC setups need fletching because it "pulls" the arrow into a straight line (think: a thrown javelin) so you get better arrow flight. You see the same effect while playing dart... very very heavy head compared to the bodies.
High FOC arrows, and Ultra FOC arrows do require stiffer spines. Stiffer spines, along with having the much higher mass at the head both contribute to better penetration.
Easton's FOC recommendations are based on balancing maximum flight and trajectory with penetration in the general case. It's only a recommendation.
High-mass arrows make the bow more efficient as well. More of the energy is transferred INTO the arrow instead of coming out as excess vibration.
High-mass arrows are more wind-resistant (higher inertia resisting the lateral wind forces.)
High-mass arrows have stiffer spines. They don't flex as much and will recover quicker (less paradox that needs to settle out.)
Shooting 200 FPS vs 300 FPS? The speed of sound at sea-level is 1125 fps so you're not really going to have sound issues. In fact, heavier/slower is more efficient and, thus, quieter.
Also, look at it this way ...
At a 20 yard target, call it 60' ...
If your arrow is 300 fps: 0.20 seconds to impact (60/300)
If your arrow is 200 fps: 0.30 seconds to impact (60/200)
At a 50 yard target, call it 150' ...
If your arrow is 300 fps: 0.5 seconds to impact (150/300)
If your arrow is 200 fps: 0.75 seconds to impact (150/200)
So at a 20 yard target you will impact 1/10th of a second slower.
At 50 yards that's up to 1/4th (0.25) of a second.
Does it really matter? Probably not. Maybe if you're hunting something stupid-jumpy where that extra 0.1/0.25 reflex time is important. But probably not. Most of the time ducking the string is going to happen in that 0.5 seconds taken up by a 300 fps arrow and there's not much you can do about that. A quieter shot (solid thrum instead of a sharp twang), though, might prevent the reflex in the first place ...
And if you think 200fps is too slow, go talk to the stickbow guys (they usually cannot break 200fps but still take animals just fine.)
Now, going all the way down to 200 is a bit extreme but, IMHO, 240-260 is a much more reasonable "floor." But that's just me and, as you see from the numbers, isn't really going to make
that much of a difference in time-to-target.
I shoot ~240 and 150/240 = 0.625 (0.125 or 1/8 of a second slower than a 300 fps arrow at a 50 yard target.)
The difference? I'm shooting a 22% EFOC 30" 761gr arrow.
In the end, it's all overkill if you make a perfect shot.
But when you don't? When you get a slight gust? Or your range estimation of off a touch? Or if the animal turns just as you let go? That high-mass high-FOC arrow is going to work FAR AND AWAY better than a lighter/faster arrow will.
The only downside to heavier arrows are:
1) Less maximum range. It's hard to get to 100 yard shots with really heavy arrows. Most hunters won't really care about this.
2) More arc. As noted above, heavier slower don't shoot quite as flat and have more arc so they have an increased risk of branches/leaves. You're still substantially faster than a tradbow though, so keep that in mind.
Aron Snyder (Kifaru, Rokslide founder, Gritty Bowman podcast) states that he like to keep it at/above 280fps for compounds.
Tradbow guys are 180-190fps.
Dr. Ashby's studies in Africa were all done with trad gear starting in 2004. The data isn't from from 1600's. =)
It's worth a look if you're at all interested.
Tuffhead has compiled them all together in one place.
http://www.tuffhead.com/education/ashby.html