When you are talking speed it is the arrows speed, yes to question one.
As for the sight, I would stay with the five pin set. I set pins very different than anybody I know. For yardage on pins I set them at; 25yds,40yds, 50yds,60yds,70yds&80yds. Thats right I have 6 pins in my sight window. I do practice at 80yds. If I can keep 6 arrows in a 6" circle at 80yds, my form is right where I want it. I stump shoot in the hills all summer, and I don't use a range finder. Steel Force are good broadheads, it is a good choice. I can't tell you what carbon arrows to buy I don't use them. Someone else will have to help you with that BBJ.
Gselkhunter