I have used my own type of lighted nocks that I made myself. They cost about $2.00 to make instead of the $10 that I have seen some going for.
As far as spooking game goes....no way.
Take a look at these 2 clips.
http://www.texasbowhunter.com/video/...127hogshot.wmv
http://www.texasbowhunter.com/video/...achalajave.wmv
I can show you countless other videos of deer and hogs shot with these nocks and they definitely don't spook game.