Hi Tim
Spine of shaft is foremost with shooting for distance, then point of balance, arrow profile and fletchings, I won the UK Flight Championships this year with a shot of 311yds out of 120lb
Longbow, with lighter bows the only difference is you can use lighter arrows, eg. My arrows for 120lb bow weigh in at 42grams and are 1/2" Aspen which are barelled to a 1/4" at the head and 11/32" at the nock. The point of balance is just forward of centre, i always make hem heavier at the front, this stops the arrow trying to turn on its end when loosed, thus the arrow comes out very straight and very stable, When i make arrows for others i start with "What is the Bow weight" and "What is your draw length", i can then make an appropriate arrow for the bow, I have a 65lb Bow which will also put an arrow over 300yds, this arrow weighs in at 32grams, it's all relative really and just a case of matching the arrow to the bow.
I am very local to you (Bicester)so feel free to call me if you would like to come and play with flight shooting one day.
You can PM me if you wish to get my number.
Cheers
Steve