We always made the booms from aluminum, have had a few of the kolstrand galvanized paravanes. Got a pretty good scar on my leg from ones stored on the house in the cut mount they provide.... paravane on end is a rough thing to run into.
Last boat had the best arm rig I've ever seen, it had a hinge arm that pivoted down from the mast to the main boom stay. It had a pin that locked it down so that the arms could be used out without bouncing back with an undeployed paravane. I'll have to dig and see if there are any pics of it setup, know there were a few taken before the boat was sold.
We put the arms out fairly often as it seemed to slow the roll just enough to notice when working pots or longline. Had pretty good sized vanes and it slowed me down when running, remember being halfway across the goa and seeing the .6knot slow down... we rolled the next 10 years without them.