What makes an arrow more dangerous than a rock is above all the pointy end, concentrating all the force in a single point.
The game doesn't seem to take mass into account, which is a pretty huge flaw.
True that.
The idea that "blunt goes through armor" (or, basically, blunt > all) is completely backward, as blunt is in reality the LEAST efficient damage possible (as its energy is transmitted through the largest surface, hence minimizing damage). The anti-armor weapons weren't BLUNT, they were PIERCING - a warhammer is in reality more like a pickaxe, and maces were flanged.