RE: Might be a dumb fletching question but here goes...
Well coming from a purely "where would they stabilize best from" standpoint, that would be as far back as possible. If you shoot a release, you can get them back pretty far, but I do know my older aluminum shafts are swaged to a taper that wouldn't lend itself to fletching real easy if they were really close to the nock.
--cutthroat.trout