I'll recommend the Cat 3.5
I like this size because it holds my usual gear and I can put a jacket, gloves and hat in it for the walk too and from stand. Plenty of room for an all day hunt, but not to bulky for a short hunt. It's nice to be able to hang the Cat on a hook and have everything in one place at a comfortable reach.
It's one piece of gear I'll never part with.
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The arrows pointing down or up.
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I don't think they make a model where the arrows seat upward.
It is a great way to carry arrows. They are well protected, firmly kept in place and since they are on your back, they are out of the way of brush when you are traveling.
Another nice thing about the Cat Quiver is that if you shoot feathers, they are protected from the rain.