Steve,
"formula" is a confusing choice of words in this discussion. It can refer to an estimate, or to the equation that defines a physical law of motion.
woodbears method is a way to estimate results. Your method is similar, but it uses powerstroke rather than total draw length, gives a slightly different result, but is still an estimate?
"ke=1/2 mvv" when written out, is casually called a formula, but the relationship described between energy, mass and velocity is really a physical law. Only one correct value for any particular weight arrow at a given speed.
Not sure if I should go on, as it may be sidetracking this discussion, but I think it is an important distinction to make if we are to understand the mechanics of the bow.