I use my drill and some sand paper. I put the shaft in the drill, and hold the sandpaper in my hand. Then I sand it to the shape I want. It works fast and seems to do a good enough job.
I try to have one arrow that shoots really well and copy the weight, foc, and spine if i can although spine is usually close if weight, shape and foc are the same.
This is what I do with shoot shafts. If I have dowels, which I haven't in years, I just leave them parallel.
Patrick