You don't lose many arrows if you use big rubber blunts, like Bludgeons, and large, bright, gaudy fletchings. If you're secure in enough in your manhood to use it, flourescent pink fletch makes it really easy to spot an arrow amongst the weeds and briars. For anything larger than cottontails and squirrels, like raccoons and such, I think it's best to go with broadheads backed up with Scorpios. That's these things:
I always use Snaro points on fluflus for mourning dove and quail.
You do break arrows, but not to the point it'll drive you to the poor house... just as long as you hit the critter instead of the rock behind it.
Of course, nearly all my small game hunting has been done with recurves and longbows instead of compounds. But you're right, hunting small game does get you sharpened up for deer season.