ORIGINAL: Rob/PA Bowyer
As far as I'm concerned, paper tuning can untune a bow. To acheive a bullet hole, you possibly might be untuning a bow to everyone but you. You might be torquing the bow and untune the bow to that and when someone properly shoots the bow, it's untuned.
I think it's more important to properly tune a bow and then see if paper shooting shows the shooter is untuned and then work on the shooter. I learned this the hard way too many years ago. Back in the early 90's I had a Jennings Carbon Extreme XLR. To acheive bullet holes the rest was so far out away from the riser that we would run out of adjustment with the sights. I could acheive bullet holes but would you say this bow was tuned? Hell no, maybe for me but it was improper because my form was improper. We worked on my form and the rest came back in to center.
Today, I laser center, then level and rarely does the rest have to be moved again for broadheads. Most if not all after checking everything else, all our broadheads are grouping with our field points. I say "our" cause I've worked on a pile of bows and I'd call them "supertuned" according to the feedback I'm getting at Poorguy's Archery.
I don't necessarily disagree with this but it assumes that the arrow is spined (dynamically) perfectly for that exact centershot. You can do that by either making adjustments on the arrow (tip weight, length, rear weight, combo's, etc.) or by adjusting the DW. Everyone butseems to have to shoot maximum DW and I never see them talk about making adjustments on arrows (not you Rob/PA Bowyer the majority of others) so saying laser and level is all that is needed can be misleading to those that don't adjust for dynamic spine.