Squirrel Master –
As the previous posts in this thread hint at, there is a bunch of information on this site about the benefits of increasing both overall arrow weight, and FOC in particular. Basically, it comes down to significant improvements in increased penetration. Spend some time looking at the excellent studies done by Dr. Ashby, and other threads in this forum, for the benefits of increasing weight/FOC.
I would agree that your set up is quite light, and your FOC minimal, particularly for a 50lb. trad bow. Compound guys often shoot much lighter arrows than most trad hunters. Increased weight = increased momentum, and momentum is good, particularly in lower speed bows (and while most compound guys only pay attention to speed, momentum is more important, with any bow, imo).
I find this link explains it quite well: