One thing to consider on bodkins vs all other arrows is your ammo per slot. You will rarely need 2 slots' worth of arrows, even with bodkins. But the recent weight changes to quivers has made 1 slot of arrows a better choice depending on your build and other items. One quiver of loomed Arrows (the plain kind) has 27 for 1 slot. One quiver of loomed bodkins has 17.
I'm a horse archer, so I prefer more shots over armor piercing shots. I use +3 Arrows, but used to use tatar arrows. The upkeep on bodkins isn't bad, unless you have 3 stacks of them AND an arabian horse. For foot archers, I'd say either bodkin or tatar arrows are the only viable choices. Tatars work best with a long bow so you can maximize the cut damage to take down horses, enemy ranged, and lightly armored infantry. Bodkins are more expensive but will work no matter what build you go for.