BowhunterSteelheader
I conducted this test because I turned my bow back a few weeks ago and went from 293 down to 283 fps with the CX Maximas. I have a little speed freak in me and I knew I could break 300 fpswith a lighter arrow, even with the bow turned back. I thought the extra speed would be helpful for those inbetween shots like 25 yards when my pins are 20, 30, 40. I also knew the feathers would make more noise in flight and be a real PITA sitting in the blind whenever I accidently touched them. The little speed freak in my head won by putting forth a convincing argument that 4'' feathers are inherently more accurate than Blazers. I was not willing to scrape the Blazers off those Maximas (again) so I bought a set of shafts that are of equal weight and spine. I fully expected the lighter feather fletched shafts to be more accurate. Part one of the test was correct the arrows shot 305 fps. However,the accuracy difference at 40 yards just wasn't there.
I've never killed a deer past 22 yards, and I'vekilled9 deerwith 315-345 grain arrows. I know the 305 grain arrow carries enough power for deer out to 40 yards, no problem; but, I can't justify giving up 10 LB of KE (estimated) at 40 yards (even though I do not plan on shooting that far). Also, the Blazers are MUCH quieter in flight than the 4'' feathers. Like I stated I've killed several deer with lightweight arrows, some of those arrows were even fletched with four 4'' feathers. The trajectory of the lighter arrowis an advantage; but, since the heavier arrow in my example is already going over 280 fps (the minimum speed the little speed freak will accept) I'm more satisfied with the heavier shafts retained energyand it's quieter flight.

Hoytail Hunter
Yes, a feather fletched arrow will lose KE faster than one fletched with vanes because feathers casue more drag. It's not so bad at closer ranges. The drag created by feathers is why I thought they would be more accurate at 40 yards.
I've seen other threads about feathers versus vanes and that's the general opinion. I decided to test for myself and see if there was a difference. I'm willing to use the fletch that tunes better and /or helps the arrow fly better; but, in my hands after four 3 shot groups the accuracy was equal. I was surprised. I fully expected the feathers to be more accurate which would be the deciding factor in using the light shafts and having the benefit of extra speed, but it wasn't so.

Follow up:
As a follow up to the above...
Living up to my username and signature, I fletched one of the Carbon Max shafts with Blazers to check tune. That shaft would not tune with Blazers; not with the rest where it is, which is on center. I can get perfect bullet tears with feathers and either a 100 or 85 grain tip on the feather fletched shafts. So, I ain't scraping off those feathers.

I'll shoot the feather fletched shafts at 40 yards and see if one groups better than the other, then decide which tip weight is best.

Then, I might / could compare the Maximas with Blazers versus the Carbon Max with feathers with a broadhead attached and see if there is an accuracy difference