extra length affects the dynamic spine. You have a mass at the end of a rod, and a force applied to the other end. When you release the string, the mass at the tip resists acceleration (inertia) causing the shaft to flex. A longer shaft means more leverage, which means more flex, so a longer arrow has to be stiffer than a shorter one to have the same amount of flex. Likewise, a heavier weight on the tip means more inertia to overcome causing more dynamic flex. Hence an arrow with a heavier tip will need to be stiffer to have the same amount of flex as a lighter tipped arrow. the opposite in both cases is also true, of course.
So we have to measure static spine on the tester, which means we need repeatable results (measuring from the same point with the same weight every time), and under stand that dynamic spine is going to be different based on length, tip mass, and amount of flex (archer's paradox) needed to get around the grip of the bow.
The right length for an arrow is the length that lets you shoot most consistently--and at least as long as your draw.
I try to get my arrows as consistently the same as I can so that I can eliminate differences in arrow build as much as possible when trying to figure out what is wrong with my shot. I suspect that gripping the bow to hard, inconsistent anchor, bad release, inconsistent form contribute to a bad shot far more than slightly off arrows, but if your arrows don't match, you can't see what else is wrong.