Its an interesting topic. On the one hand, from the physics pov, it seems pointless to me to argue with Sir Isaac Newton and 300 years of appllied physics. On the other, given most of our setups (eg. 50# bows w/ 20" power stroke on up), 10 gpp (500 grain arrows) are more than sufficient for whitetails. Marginal hits are gonna be a problem regardless, and even momentum only mitigates by a small measure. There's just too much going on, animal could move, etc. lots of stuff can happen such there are no guarantees. You gotta bite the bullet, make your best effort, and best case scenario really have your tracking skills up to snuff to help avoid lost game.
Imho folks would do better trading a little arrow mass (within reason, say down to no less than 9 gpp on selfbows, 7 w/ glass) for better trajectory. When you get out to and past 25 yards (yes, I know nobody shoots past 17 yards), it's a lot harder for me to shoot the mark. I can shoot the line ok, but at random ranges a few inches of drop can make a big difference. Obviously for marginal setups, kids or ladys making 40# and 20" power stroke or less, you gotta get what gains in efficiency you can with heavier arrows. And it's obvious to everybody, or should be, limit the range as well. This helps with compensate for the more arcing trajectory.
Yes, I know folks who shoot "instintively" don't need to know about trajectory. They don't have to aim or estimate range. I appretiate the argument. I practice it to some degree as well. For example I see the arrow, but I don't make an effort to place it at a particular point of aim, make a "sight picture" like "gap" shooting, or as with a rifle. But somewhere between your ears you DO see the arrow (admittedly peripherally regardless of what you "focus on"), you DO compensate for range, you DO aim. That your conscious mind doesn't appreitate, register, recognize, recall the particulars isn't all that interesting to argue, to me. Perception is a stange thing, frequently not as accurate as we assume, and unfortunately in most cases reality despite accuracy.