Well, a rule of thumb for draw length would be to measure ones "wingspan" and then divide by 2.5. Then you could set up the bow for your draw length. Then draw the bow with a full length arrow and mark the length that you want. I have mine sticking out quite a bit from my rest s.t. my fingers can't reach my broadhead if I go brain dead - I suspect most would use a shorter arrow than I do. At any rate, on my bow my arrow sticks out well past the front of my bow at the rest (without any kind of a point - the end of the arrow shaft sticks out that far).

This works out for me (at 6' 1.5" tall, a 75 inch wing span, a 30 inch draw) to be a 31.5 inch arrow.

I like a fairly heavy arrow s.t. I am going to shoot for a 500 grain arrow for a 60# bow so I shoot a 125 grain. This puts me with the weight of the arrow pretty far forward - generally this is more stable, although I suspect that one can overdo it.