There seems to be a confusion between shooting 10 grains of arrow weight per pound of draw weight (gpp) and shooting a 500 gr arrow.
In TTB4, there's a chapter on bow testing ("turtle bow"). There, all bows are shot with the same 500 gr arrow, no matter the draw weight, no matter the draw length. There the expectation is that a bow is, on average, expected to shoot 100 fps plus its draw weight (pounds) in fps. So a 50# bow should shoot 150 fps to be average, a 60# bow should shoot 160 fps. The former is shooting 10 gpp, the latter 8.3 gpp. Performance is compared by looking at how many fps above the expected average draw weight each bow shoots. A 70# bow shooting the 500 gr arrow 175 fps (5 fps above expected) is doing worse than a 40# bow shooting 150 fps (10 fps above).
However, since the TBB series, we have learned a great deal about bow design, and I have the feeling we have increased the average bow speed. A 50# bow shooting a 500 gr arrow 150 fps is currently less than mediocre.
The other standard is shooting at 10 gpp and 28" draw length. There, every bow is expected to have the same initial arrow speed no matter the draw weight. A 30# bow shooting 300 gr arrows at 165 fps is performing equally well as a 60# bow shooting a 600 gr arrow the same speed.
It's pretty darn difficult to shoot faster than 175 fps at 28" and 10 gpp, even with a composite horn bow. Few are those that have achieved more than 180 fps at 10 gpp and 28" DL. I haven't.