Send a PM to Woody Sanford. He can provide you with the most comprehensive and easy to understand explanaion of these tips and their differences. In fact, Woddy wrote a great article for Traditional Bowhunter a month or two ago. I think I still have that issue so if you PM me, I can ship it out to you.
Do you shoot compound or traditional?
The principles above apply to both. With that said, they become increasingly important as the shooter's set-up produces less kinetic energy. What I'm saying is, if you're shooting a compound bow set-up that's generating 75 ft/lbs of kinetic energy I don't think it much matters whether you're shooting a single bevel, dual bevel, or tanto tip. In fact, a well tuned arrow placed properly will find a complete pass-through on an elk with a non-cut-on-contact tip or even a good mechanical BH.
On the other hand, if your shooting a longbow or recurve and producing in the range of 50 ft/lbs of kinetic energy the information in this report become much, much more significant.
Regardless of what type of bow, arrow or game animals anybody shoots the above information is valuable. How much of it you need to actually work to incorporate into your bowhunting system depends on your individual system.
NM_alazan's Link
The "tanto" tip is basically where the angle of the converging blades is steepened. This is done to help prevent the tip breaking/bending. Most traditional styly heads incorporate this concept (muzzy phantom, magnus stinger, zwickey, grizzly to name a few).
I use Grizzlies out of my long bow and recurve and the single bevel splits through 1/2" pine almost effortlessly.
I like Ashby's summary because it is basically saying that there are many ways to increase arrow penetration, but the factors at the top of the list give you the most bang for the buck. You can overcome shortcomings in the top factors by increasing the lower factors, but you will have to do so by a much larger amount.
I included links to Ashby's full reports if anyone feels inclined to read through them.