Your first pic is, horrid. Makes me cringe honestly. Now, I'm not the best coaster creator but I know there shouldn't be flat areas and bad kinks in the entrance and exit of the loop. The 2nd pic is much better.
Here was my first attempt at an Arrow Loop. The ride these pics are from is a very small family ride with 1 loop. The loop may be too small as well, but I believe the shaping is fairly good. Not excellent and not perfect, but I was happy with it.
So, how did I do with my loop? See pics below.
![Image](http://img864.imageshack.us/img864/7128/arrowsampleloop2.png)