Yeah you can use broadheads with wood... They glue on just like the field tips......
I like to shoot wood..... I guess b/c of the history around them...... I would say at hunting ranges they can shoot as good as you can....
I've heard it said that aluminums and carbons can outshoot wood by 30pts or so on a NFAA 300 round..... I say all that big talk is hog squat..... Shoot what you want and what you can afford......
Durability wise, you can't beat a carbon/aluminum composite shaft like easton ACC..... But like Arthur said you often have problems getting your weights to proper ranges....
I enjoy the hobby of arrowmaking as well..... And when shooting wood you have plenty of opportunities