What you're actually refering to is Kenetic Energy. There are some heavy carbon arrows out there that pack a pretty good punch too, but you're right. For hunting, aluminum is a great choice. I just switched to carbon this year after shooting Easton XX75's for the last two. Im happy with the carbon, but the aluminum did the job. At present, it seems cheaper to buy the carbons too...
Your rational is fine. Since most of the rifle shots I took when I lived in MI were from short distances (< 100 yards) in swamps and think forest, I opted to continue to use my late father's lever action Marlin .30-.30. Not too good out past 100 (at least without a scope), but for the shots I was taking, it was perfect. Short, light and the right tool for hiking through some of MI's finest swampland
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As long as you're accurate, any arrow will work...