I knew I wasn't crazy LOL 2am but not crazy.
What you want to do arrow wise is find the poundage where you feel comfortable and then get the arrows that fit that range. Most carbon arrows are pretty good now a days, but the best are the GT CE. I actually shoot the Easton ST Epic arrows. They were the ones my local shop recommended since I was starting out again. I was upgrading this fall before hunting, but wound up with a neck surgery and can't get back out right now. The arrow question you will find is like the brand of truck to drive. Most everyone has an opinion and if you ask 20 guys you will get 15 different answers. I 'd say start at a medium ranged priced arrow till you are ready to hunt and then upgrade. Also if you do go with a whisker biscuit style use feather vanes, They pull through much easier.
Life of a bow- that depends on you. The more you use it the more it will need work. Key points, the string will break down faster than the rest of the bow, keep it waxed. Keep it cleaned and no dry firing. I have a bow that shoots great that is 8+ years old and it is fast and in great shape. They will last a while. I am actually keeping that bow for my son when he is bigger and can handle it.