SHAFTS
I ordered 150 poplar dowels of 1/2" diameter from Madison. "Dowels!" you are probably cursing in outrage. I know, I used to think the same way. But if you follow just a few basic quality control guidelines, you'll be just fine, and will never pay for shafts from a maker again. By 150 dowels cost me $120, shipped. Of these, about 20 were perfectly straight, 30 were very straight, 30 were decently straight, and about 70 shafts were unusable, either very warped or with pinknots or machining errors or excessive grain runout or such. So I basically paid $120 for 20 "premium," 30 "hunter," and 30 "seconds" quality shafts. For now I will pretend I don't want to do any straightening and say that I paid $120 for 50 good-very good arrow shafts. That's $2.40/shaft, a very good price.
BODKINS
I ordered one dozen heavy war bodkins from Hector Cole. They came out to about $16.25/bodkin. Now we're looking at $18.65/arrow.
HORN INSERT
I buy scales of horn that are used to make knives. I can get about forty horn slivers for nocks out of a slab that costs $8. I just picked it off ebay. That's $0.20/sliver and now we're at $18.85 for the whole arrow.
FLETCHES
I bought 200 feathers for $110. That comes out to $0.55/feather or $1.65 per fletched arrow. So, the grand total to make one of these heavy war arrows was about $20.40 for the entire arrow. (I am neglecting the cost of stain, glue, and binding as they cost so little per arrow, pennies or less.)
To put this in perspective, most places that make/sell proper warbow arrows charge around $40/arrow, and that's without one of these very expensive bodkins! With an arrow made the way this is, you're realistically looking at $50-60 each, over two and a half times what it costs to make them yourself!
Now that I've maybe convinced you that it's worth your money, I'll show you my process. It is not the best, and I still need work and practice, but I can make one of these arrows in around 1-1.5 hours total.
First, I sort out my shafts as mentioned previously, and end up keeping the best fifty that don't need any work or straightening as my first batch for arrows. I spend my time on this as I don't want any shafts with defects that could cause a failure during loosing. I would like to mention that I've made about 100 arrows from poplar dowels and have never had one break during loosing, and have only ever broken two shafts in all the targets and rocks and trees I've struck with them.

I then selected my heaviest shaft.

And my heaviest bodkin from Mr. Cole.

I then did some rough calculations. My shaft is 1182 grains for 36" at consistent 1/2" diameter. Using a length of 32", my cut to length shaft would weigh 1050 grains. However, I'll be tapering it from 1/2" at the point to 3/8" at the nock. Using the formula for a truncated cone, I find that the shaft after cutting and tapering should weigh approximately 850 grains. Because my point is 700 grains, and fletching and staining usually adds around 100-150 grains, I should come up with around 1650-1700 grains weight, not quite the target weight of 1750 grains. Oh well.
Now I cut the slot for the horn. I make this 2" deep and about 2mm wide. I two hacksaw blades taped together for this.

Now I make some horn slivers. I use a bandsaw and a custom wooden spacer I made which allows me to shave off perfectly 2mm thick slices from the horn slab. After testing the fit to be safe, I coat it in glue on both sides.

I then gently slide the horn sliver into the cut. After it's in there nice and snugly, I use a single clamp to hold it all together.

After drying (about one hour) I use a large file to shave off the protruding horn until the insert is a little flush. This is not the finished look, but this is necessary to allow the next step to be effective.

Now, I have to taper the shaft. I use a jig I made myself, consisting of two steel L-bars clamped to a board. One bar has a cloth-backed strip of sandpaper facing the interior of the channel. The channel is 1/2" wide at the start and tapers to 3/8" wide at 32" away from the opening.

Now I wrap masking tape around the end of the shaft away from the horn to give it some grip. I then put the shaft tape-end into a drill chuck and snug it down. To taper, I just turn on the drill, and slowly and carefully run the shaft nock-first into the tapering jig.

Now I cut the nock with three hacksaw blades taped together and use a small round file to make the nock smooth.

Now I cut the arrow to 32.5" and use the last inch for the point tenon. I cut a ring with a knife and then strip wood away from it to form a shoulder and tenon.

After that's done, and I do some test fitting and minor adjustments, I glue on the bodkin.

I now take 220 grit paper and give the whole shaft a smoothening job. I apply about 5 coats of danish oil and the shaft is complete.

The only thing left to do is fletch the shaft. I cut my feathers to 7.5" x 3/4" and used red binding at about four turns to the inch. At the end, it came out like this.

All told, the cost was about $20 and took about an hour and a half. Considering I saved about $30, I made a decent wage on this, and in batches I am able to do about one hour for an arrow. Also, I have some imitation machined Tudor bodkins from Richard Head that were only $3 each, would would put the cost of these arrows at under $10 each. I encourage anyone that is thinking of trying to make warbow arrows to go for it! It's not too hard with practice, just be careful with your dowel selection (or pay about $2 more per shaft to buy from an archery supplier) and you won't have any problems.
Total weight?

Not bad on the rough estimate! Unfortunately I couldn't quite get the 1750 grains I was going for. I think this is a problem with using poplar. The shafts just don't have the weight. I think if you really want the 1/4 pound shafts you need to use ash or birch. Poplar is too light. But it works wonderfully with 300 grain or so bodkins, the arrows come out to around 900-1100 grains which is a very nice target arrow weight for 100 pound and heavier bows. Hopefully this was all somewhat helpful!
Cheers!
Brian