slee - Paper tuning is only a starting point. Bullet holes are great to see and show that you're in the ballpark.

Next at 20 yds., do a rough sight in shooting a group. Next make a horizontal line on your target and shootthat horizontal line w/fp's. Shoot the horizontal line to check your nock set for proper position. Next shoot a vertical line to check your rest position insuring it is set correctly. The bullet hole you're seeing shooting at 6-9 feet shows that your arrow is reacting correctly at that and only that distance. By shooting and starting this group tune will show what's happening down range. Remember it's just a starting point and group tuning will fine tune your bow/arrow.

Once you've achieved proper nock set and rest position, screw on a bh.

Follow the same steps as stated for the fp's.

Always adjust the horizontal impact BEFORE the vertical.

If your bh's are hitting low, lower your nock set by 1/16" until you bring your bh's to the horizontal line.
Conversely, if you're hitting high, raise your nock set by 1/16" until you achieve results.

Make the vertical adjustments to bring the bh's to the fp's by moving the rest in 1/32" increments if necessary.

If you're hitting to the right of the fp's, move the rest to the left and visa-versa if impact is to the left.

Once you're done with that, shoot your fp's to check the effect on your tune. Remember you're shooting to improve groups for both fp's and bh's.

If you're a spot shooter and can hold dime size groups with fp's consistantly, you can demand the same performance from your bh's. In other words, your bh groups should minimally group as well as what you can consistantly shoot with your fp's. Don't expect more from your equipment than what you can personally deliver on a consistant basis.

Good luck.