No offense taken. I'm only going on practical hunting experience and from my perspective, I would have to disagree with your theory. I've noticed that the sharper my points have become, the more penetration I'm getting and the more massive the bleed out is. A deer hit with merely a point will commonly stop bleeding and recover, but a deer with extensive internal lacerations will often die within yards of the hit location.
I would theorize that the bone and wood points were more often used on small game than large game since they have less blood to lose and smaller chance of recovering from a hard hit. It's also possible that hits to key areas (spine or neck shots) would bring down large game and result in less wasted meat.
I'm no expert, just going on what I see first hand.
