ijimmy, the 350 grain number is IBO, assuming a 70# bow (5 grains per pound of DW).
Frank, if we're talking hunting distances of up to 35 yards or so, I agree completely.
Some time ago I ran a bunch of different weighted "arrows" through a trajectory program I have, from 270 on up to the low 300's, the difference in point of impact is minimal, an inch or so at best. It's one of the ways I'm able to shoot 64#s at 280 without thinking I'm missing the boat
It definitely was an eye opener.
For guys shooting longer ranges, say out west, if I was one of them, I'd have a lazer range finder and a moveable one pin set up, so the difference to me would again be moot