I'm pretty simple when it comes to making wood arrows. I know I'll either break or lose them, so I've never worried too much about makin' 'em purty. I don't own any dip tubes or cresting machines. Anyway, here's what I do.
I dilute some bright orange acrylic paint with water, then use it as a stain on the raw shafts. The bright orange shines like a new penny when the arrow is hiding in the grass, so it's a lot easier to find.
After it dries, I cut the tapers. I use aTru-center tapering tool and it's okay. Can't really and honestly say it's any better than the plastictapering tools though.
ThenI hang my shafts by the point taper on a line with clothespins and spray about 5 coats of polyurethane on 'em. I like the Minwax Spar Urethane and use it on both arrows and bows. Some guys just get some water based poly and wipe it on with a rag. Either way works fine. Of course, you could go all out and buy the dip tubes and lacquer if you want to do it up right.
My favorite nock is the Bohning Classic.
For glue on shafts sealed with polyurethane, I use Duco cement.Broadheads are glued on with hot melt. For field points, if I want to make sure they don't pull off in a target, I'll use 24 hour epoxy. No glue for fletches, except in an emergency. I only use Bohning fletching tape for feathers.
Naturally, I straighten the shafts before staining them. Straighten them again before cutting the tapers. Straighten them again before putting on the poly. Straighten them again before fletching. Straighten them again before installing the nocks and points. Doing all that seems to help the finished arrows stay a lot straighter.