ORIGINAL: fingerz42
We've been asked this exact question numerous times, and without throwing all the physics and ballistic numbers at you the answer for bowhunting applications is NO. You don't need to buy a rangefinder with ARC. This is a marketing gymmic and dont be fooled. If you want the "true" distance, range a tree at the same height as you, but at the horizontal distance of your target. Problems solved, now you have the "true" distance and you saved $100.
See how that works for you shooting uphill.

Or from a deerstand 20 feet up but shooting down the side a hill that is another 30 foot drop and the deer is only 20 yards from the base of the tree.
As has been stated,most of the time for most hunters,it will rarely be something you "need" but there are times when having it would be extremely helpfull.Plus,if buying a new rangefinder,the price is on par with those without the arc system so it would be worth getting.