So it seems most considerations with tonearms are related to proper setup of the cartridge. All that adjustability is to ensure the cartridge is performing optimally, for best sound quality. It would be sexier to see measurements that show how the arm directly affects sound quality. This would involve I think FR and tracking ability, using different arms but same table and cartridge, seeing if there's any difference in comparison. Seems like a difficult thing to do though, would most likely involve digital capture of needle drops, then analyzing the files.
Ahh you should stop thinking about FR being related to the arm...
The arm issues mostly relate to tracking and resonances - the arm mass to cartridge compliance matching, will drive the low frequency resonance of the system - which should be somewhere in the 8Hz to 11Hz range to work best - below that, it will start to be impacted by things like footfall, the normal environmental subsonics that we don't generally notice - above that and it will start to be impacted by the actual bottom end of the recording....
This resonance is also damped by the stylus suspension (which is a proprietary rubber compound...) and the amount of damping will also influence things in addition to the compliance of the suspension.
Damping can also be added using various arm based fluid, magnetic, electro-magnetic, (or even some proprietary rubber damping compound based setups), it can also be added by a cartridge mounted brush as Shure did. (note that the Stanton/Pickering brushes provide little measurable damping, unlike the Shure design, which had a damping grease in the hinge).
A damped tonearm, can widen the resonant frequencies within which a cartridge can be used - but will also improve the tracking of a cartridge that is within the ideal range!
Basically damping of the arm/cartridge resonance, keeps the cartridge more stable, reducing the influence on the needle of movement of the cartridge/arm system, and therefore allowing the needle to track the groove more effectively.
So all of this messing about with parameters, all comes down to optimising the tracking ability of the cartridge....
Other aspects that influence tracking ability - obviously correct geometric alignment of the cartridge - this will also involve the geometry of the entire arm/record system - with pivoted arms, the longer the arm, the closer it gets to ideal geometry - ideal geometry is of course only possible with linear tracking arms (and they add their own kinks to the whole equation)
Most typical arms are 9" designs - the "standard" arm length - but there are many variations (look at the Dynavector arms, which have a heavy main arm, with a tiny subsidiary arm holding the cartridge.... it is also magnetically damped from memory (always wanted to try one of those! - never did.)
For a nerd (like me) - there is an endless fascination in the optimisation of all these parameters, and the multiple possible "good" setups that can be achieved with differing permutations and combinations.
There are lengthy threads on these topics on the VinylEngine website... along with some useful tools to help (calculators and such)