This is a partial build along.
I've always wanted to try making some osage arrows, so the only way to do so would be to cut them from scratch.
First I used my table saw to cut out some 1/2" square blanks.  I cut them plenty long to begin with.

 

Next I made a jig that has a 90 degree valley to lay to blank in.  I used a hand plane to cut off all corners until it is near round and about 3/8" in diameter.

 

 

To get them round, smooth, and at proper spine, I spin them in a sanding jib.
First I used a 3/8" bolt with the head cut off and inserted inside a "straight" section of 7/16 fuel line that I chuck up in a drill.  The sanding end is pretty self explanatory.  It is two pieces of wood with a 3/8" hole drilled between them and sand paper sandwiched between.  This I is slid up and down the shaft as it spins in the drill.  Do so until you reach correct spine, and your shaft should be perfectly round.  Also, if your shaft isn't straight, you will know it, as it will wobble real bad when spinning.

 

http://i247.photobucket.com/albums/gg137/TroyHarkey/DSCF0046.jpg

The end result is a pretty yella shaft.

 

Also, before you begin the spinning process, it helps to cut your nock and point ends to help insert into the hose.
I made a crude guild that I use with my grinder.  It works pretty well.

 

I'll post a pic of one of the arrows when I have the fletching, nock, and point completed.  It is a little bit of a slow process, but feels good when you've finished makin them.

I don't know why the one picture didn't come through, so I'll repost it.  It is the picture of the sanding jig.

 

That will be heavy enough to plow through a bull elephant!  Good tutorial.
I read an article in the past year or two where a man was determined to kill a deer with an osage shaft.  His main issue was keeping them straight during the hunting season.
Hope you enjoy much success with this endevour.

Ive just started making arrows myself. When I finish planing off the corners I run them through this dowel cutter. works like a charm.

http://www.leevalley.com/wood/page.aspx?c=2&p=52401&cat=1,180,42288

I'm impressed.  Those are going to be great. Thanks for the tutorial.

Canshooter,
I've thought lots about getting one of those dowel cutters.  When it rises on the priority list, I'll get one maybe.