Finding each individual bowhunter's Maximum Effective Range (MER) is one of the most important exercises each individual bowhunter should go through each pre season. I wouldn't do it until you've been shooting for a few weeks if you're one who doesn't shoot all year long. This exercise assumes your bow is adequately tuned and your sights are sighted in within the distances you believe you will be hunting. For an eastern whitetail saddle hunter who will, 98% of the time, be hunting from a saddle within "bow range" of a trail crossing or other deer travel way or location, it may be good to consider 40 yards as your baseline maximum distance. (I am basing this on an "average" bowhunter) If you can shoot further distances you will already realize this and adjust your personal overall distance accordingly.
So, in this exercise you shoot for groups. You start at 10 yards or whatever is comfortable to you and keep backing up in 5 or 10 yard increments until you can no longer CONSISTENTLY group 4-6 arrows into the target size you deem as appropriate. Some people will use the entire 8" vitals of a whitetail as their overall target size. Others will decrease it to perhaps the size of a 3-4" circle. I believe most bowhunters with modern equipment and decent form can adequately group arrows consistently in 5-6 inch sized groups without much problem and most can group them in half that size of their overall bullseye size (anywhere from 2" to 8") depending on experience etc. within normal hunting distances.
When you are no longer able to group them consistently, mark that range, say 45 yards and only take shots at game to a maximum of 40 yards. If, the following season you've been practicing with your form and at 60-80 yards and you can now consistently group arrows into a 3" circle at 55 yards and at 60 you cannot, well then your MER for this season may be 55 yards.
Some variations of this can be applied. The one I like is increasing the vital zone size based on a 10,15 or 20 yard increments (depending on your skill level etc.). So for example, at 20 yards and in, use a 2" bullseye, at 40 yards and in use a 4" bullseye, and so and so forth up to an 8" total vital zone size. If you are going to go elk hunting, perhaps you want to use a maximum 12" vital zone size to find your MER. This adds in some variability and allows for adjustments based on experience and shooting skill level(s).
Overall, the point of the exercise is to determine your individual maximum effective range for that hunting season. A personal goal based on an objective analysis of your own shooting ability using your gear. The beauty is that this can change each year depending on how much you want to or don't want to work at it. From an ethical standpoint, you should know your maximum effective range especially with slower moving arrow setups. If you're honest with yourself, your wounding loss will decrease exponentially. It is similar to actual shot placement where you will impose a goal of only shooting at a deer that is either broadside or quartering away and within X yards.
What does this have to do with the Fairy Dust? Nothing directly, but If you are on the fence about going to a heavier arrow build because you do not want to assume a more rainbow and arching trajectory, with this exercise you can see if it will even make much of a difference or not by losing 35-45 fps in speed for an arrow that your can't consistently group at x distance anyway if it were traveling 285 fps as opposed to 245 fps.