It was only something that I vaguely remember reading -- I was hoping that someone else would remember it better than me. :-)
Anyway, Payne-Gallaway was using a heavy siege style crossbow for those tests.
For comparison, the maximum range of longbows has been estimated at 400 yards (a reproduction of one from the Mary Rose reached about 360 yards), and for a turkish bow, I've heard estimates of a range of about 500 yards. That's absolute maximum -- NOT effective range. [W.F. Paterson believes that a turkish bow, with an experience archer on a good day, could hit a target the size of a man on horseback about 1 in 4 times at 280 yards]
Given the differences in force applied (although, there are probably some other factors involved too), the ranges of arrows launched from bows seem pretty impressive compared to crossbows. Which implies, to me, that arrows were more aerodynamic than bolts (and probably more stable in flight).