Seems to me that walking around in Vibram Fivefingers (akin to barefoot) would actually strengthen your arches whether naturally high, flat, or in between. Not to mention improving your balance.
My 12-month old son has worn leather soled Robeez shoes (think mocassins) since he was 3-months old. At 12-months he is literally running around. He has perfect running form – always on the balls of his feet. We recently got him a pair of regular-soled athletic shoes for when it's dirty or wet outside, and while he does fine in them now, he clompted around in them like he had boards strapped to his feet at first.
Is this purely anecdotal? Yes.
Is this applicable to adults? Probably with conditioning.
Is this something I am looking forward to trying (fivefingers)? Yes.
Is this something I'll wear hiking/backpacking? Only time will tell.

