Okik,
I see that you weren't kidding when you said you were a newbie. So let's start from scratch. I don't want you to get discouraged.
First off you said you were shooting 28.5in arrows at 28in draw length but your actual draw length is 26. Everyone should have stopped you right there. You will need to see if the bow can be adjusted down to 26in draw length otherwise.. your form will be so far off that you will scrape your left arm with the string when you shoot and have the nock anchored behind your ear(slightly exaggerated). This won't work. And the chances are your older Bear compound(assuming) won't adjust to your 26DL.
My advice..go to a bow shop and get measured for correct draw length...take your Bear with you and ask what adjustments can be made. If it won't adjust to your needed specs....then it's time to start looking at a bow that will meet your DL and poundage requirements. Bows these days are much more adjustable for specific shooter needs...kids/women/short DL/low poundage.
40lbs.....how old are you? Can you pull more weight? Bear makes a couple great Youth/Lower poundage/Draw Weight bows.
I just bought a Bear Apprentice for my wife that adjusts from 20-50lbs and Draw Length from 15-27in. With all accessories, 3pin sight, WB Rest, String Loop, 3 carbon arrows, 2 piece quiver, stabilizer, and even 3 broadheads..for $279 shipping inc. All she needed was the $25 Tru-Fire Patriot Release.

You will want a release...get a Tru Fire Patriot it's cheap and decent quality. Have a string loop installed.
Then we can talk arrows......
P.S. Vanes are simply the plastic/feather(Fletching) attachment at the end of the arrow that rotates the arrow in flight to provide stabilization.