I have a strong preference for aluminum over carbon. That is, with the caveat that we're discussing the aluminums that have a wall thickness of .015" or more. For me, the heavier aluminums last a lot longer than carbons. Right now, I'm shooting a set of 2315's that I've used on my compound, recurve and longbow for the past five years. Some of them have been straightened several times, certainly, but they still shoot great, even with broadheads. On the other hand, I've never had a set of carbons last more than one summer before they're worn out.
I can be practically certain to get a dozen aluminum arrows that will shoot perfectly well with broadheads. I'm pretty certain NOT to get more than one or two out of a dozen carbons that will carry broadheads worth a flip.
I don't have to replace the teflon prong silencers on my rest nearly as often with aluminum as I have to with carbon. Aluminum is smoother and less abrasive than carbons, even the carbons with the camo coating.
Associated with that, aluminum arrows are much easier to pull out of targets, even without resorting to rubbing the arrow with waxes, lotions, potions, oils or unguents. This is very important to me and the degenerating discs in my back. If I shoot a round of 3D with carbon, I always keep score so the other poor sods in my group have to pull my arrows.
You mentioned more KE due to aluminum's weight. That's only part of the story. They also absorb more energy from the bow, so there is less energy left in the bow to cause shock, noise and vibration. Which means I don't have to spend a bunch of extra money on rubber anti-vibration gizmos and my bow will still be shooting like new, many years from now. (I've got a 1990 vintage Hoyt that has never shot anything butaluminum arrows and it still shoots like a new bow.)
I like the larger diameter of aluminum, so I can apply more fletching helical and still have plenty of rest clearance. Although, there are some fat shaft carbons on the market now that are just as large. One of the reasonsdropaway rests have gotten so popular is they eliminate the problem of fletching clearance with carbons. Or some guys just pitch it all and go with the whisker bisquit so they get total fletching contact.
Cost. To get a carbon arrow with relatively the same straightness and spine consistency of even low end Gamegetter II's, I'd have to spend roughly double the price. And, like I said, the aluminums will last me several years while the carbons will be worn out in less than 4 months, as much as I shoot. To get equal service to the 2315's I've been shooting for the past five years,for whichI paid $45 a dozen, I would'vegone through 15 dozen carbons (One dozen every 4 months=three dozen a year = 15 dozen over five years) and spent roughly $1500. $45 vs $1500?That's fairly significant savings, I'd say.
Aluminum arrows are much eaiser to work with. I can use plain ol' Fletchtite for fletching them and hot melt for inserts.Being able to use hotmelt means I can turn the insert if it needs adjusting to make a broadhead spin true. And I don't have to worry about ruining the aluminum shaft while I'm melting the glue. With carbons, I have to epoxy the inserts in place so I'm outta luck if the insert doesn't wind up perfectly aligned with the shaft when it's first installed. Even if you use hotmelt with a low melting point forcarbons, you still run therisk of getting it too hot and melting the shaft.
Aluminum arrows' inside diameters are perfectly consistent, which is a big help when installing inserts. ID's on carbons (at least, all the ones I've measured)are highly inconsistent, which is a nightmare when trying to get inserts installed correctly.
If I use a carbon arrow, I'd save roughly 100 grains of arrow weight and gain about 20 fps. To me, a paltry 20 fps is not worth all the extra stuff I have to go through to get them to shoot, and the extra cost... not to mention the extra "WHAT?!!? You need arrows AGAIN?!!?" bargaining rounds I'd have to endure with the wife.[8D]
edit: BPS posted whilst I was typing. After reading his post I realized I forgot mentioning the safety issue.
Carbons are exactly like old cedar arrows. You have to check them for cracks every time you shoot them, for safety's sake. And you can still miss a crack. Maybe if you shoot an aluminum that's 40 pounds underspined for a bow, you'll have safety issues. It takes someone really stupid to do that, but most Darwin Award winners remove themselves from the gene pool before they get around to shooting bows.