here is my current setup with the vexor and i get about 2.2km in it

(without fleet bonus' or the snake set YET)
lows:
1) best movement/speed combo
1 overdrive injector tech 2
2 nanofiber internals tech 2
1 damage control tech 2 (buffer in case they break through the ''buffer'' shield tank)
or
2) best speed
2 overdrive injectors
1 nanofiber internal
1 damage control tech 2
mid:
10mn microwarpdrive tech 2
warp disruptor tech 2
1 large shield extender tech 2 or best named (buffer)
highs:
4 dual 150mm's prototype gauss guns (with faction tungsten or antimatter loaded)
1 drone link augmentation (range for drones)
arbitrator:
lows:
Same as the vexor
Mids:
10mn micro tech 2
warp disruptor tech 2
large named shield extender or tech 2
stasis webber best named/tech 2 or a second large shield extender or a tracking disruptor
Tracking disruptor against turret ships (unless its smaller than a cruiser with turrets)
stasis web against ceptors/recons trying to orbit you
shield extender against missle boats or if you just want that extra bit of buffer
highs:
drone link
3 slots open (dunno what you would fit i am not amarr)
speeds:
vexxor with my skills = 2,238
arbitrator with maxed skils = 2,182
shield hps:
vexor = 4k (my skills)
arbitrator = 3.7k with one 6.7 with two (my skills)
the key with both ships is to use your drones to kill the target while in a gang/fleet (solo if you can do it correctly)
always try and keep an orbit of 15-22km away (unless its a minmatar EAF or recon ship then gtfo asap you will be webbed from 1km - 40km and die)
these are not meant to be pwn mobiles, but a cheap fast moving ship for the newer guys. (amarr starts with all the skills needed to run this besides the navigation/shield skills, and gallente is missing hull upgrades/shield skills)
gallente however have more learning skills and start with a bit of nav skills
so its pretty balanced on how long it would take to train.
anyhow time to calc the amount you would lose per ship....
vexor = with best named/tech 2 (using dual 150mm's scouts) = 8-9 mil
arbitrator = a little less currently without including the guns 6-7 mil
(that is really cheap for a pvp ship if you are in low sec mission running/ratting tbh)
both do a good amount of dps....as long as you use tech 2 medium drones 150-200 dps from them alone.
my vexxor with guns does 298 currently.
pros of each ship..... SE = shield extender, TD = tracking disruptor, SW = Stasis webber
arbitrator:
1) 150m3 drone bay (larger than vexor = more drones)
2) tracking disruptor bonus (does wonders against turret ships

, but nothing against teh missiles of doom

)
3) 4 mid slots = opens up 1 mid compared to the vexxor for a SE/TD/SW
4) amarr starts with hull upgrades level 4
5) drone damage bonus 10% per level and tracking disruptor effectiveness per level
vexor:
1) drone damage bonus and gun damage bonus per level
2) smaller signature radius than the arbitrator with the Micro running
3) more turret hardpoints and highslots (more damage)
4) slightly faster (not enough to brag about)
5) gallente start with high drone skills and ''okay'' nav skills + a fair amount of learning skills to speed up training
cons:
arbitrator:
1) amarr starts with little to no learning/nav/drone skills so it takes longer to train the fitting
2) less dps than the vexor
vexor:
1) smaller drone bay
2) gotta by the hullupgrades book or do the first turtorial mission to get it...then train it to 4
3) Will not survive as well as the arbitrator due to 1 less midslot which the arbitrator can use for a TD/SW/SE (based on the enemy the arbitrator is fighting)
That pretty much covers it.....and with the fittings above they are both very COMICAL bait ships.
as seen below:
EVE-KILL.NET PUBLIC [v1.4 Trinity] Killboard - Kill details EVE-KILL.NET PUBLIC [v1.4 Trinity] Killboard - Kill details
pain really helped with the stasis webber on his rapier and as soon as they were webber the ships would die in about 20-30 seconds at most.
P.S. Yes, i am not in the corp anymore, but since i left so soon i feel that i need to throw some info for some fun/effective/cheap ship fittings.
However, if you feel the need to ask why and all just send a pm to me in game if you would to keep this post nice/clean