I have used hide glue to hold steel and flint points in a shaft. It works, but not nearly as well as Pine sap pitch. I really learned my lesson when I had some flint tipped arrows that were stuck point first into damp soil. After a few hours the points came loose. You can use hide glue to hold the tips and as long as everything is kept dry it will work, but add in moisture and the Pine sap pitch becomes preferable.