In the field, there can be any number of reasons why someone would be estimating distance. For instance, if you pull back your bow when a deer goes behind a bush, and you are looking through the peep when he comes where you didn’t expect him and he walking towards you several steps before turning and giving you a good, broadside shot, you might need to estimate. In situations such as this, arrow speed can reduce the effect of a bad estimate, so I would think a faster arrow would be a good thing, other things being equal.
Well, see... That's another bit of a problem I've got with today's bowhunters. Drawing their bows and holding until the shot is presented. Yeah. It can lead up to all kinds of bad shot decisions. And I still get extemely angry at someone spewing verbal diarrhea about how a faster arrow can excuse a bad decision.
I've seen wound/loss estimates by state wildlife agencies showing anywhere from 35-80% for bowhunters. Those like you who have bought into this fast arrow garbage are, I think, one of the major contributers to that problem. People flap their gums about how traditional shooters fare in 3D shoots. Odd that traditional bowhunters have a wound/loss rate less than 10%. Why? Because they freakin' get close, know their limitations and don't fling Hail Mary shots!
Call it arrogance. Call it impoliteness. Call it whatever you want when someone points out the BS reasoning behind that 'fast arrow making yardage estimates less important' drivel. It's the truth and if you don't like it, you're part of the problem.
Keep the yardage estimating to the 3D course where it belongs. It has no place in the woods.