| Thedmstrikes |
I would caution weighing options of the bloodline development/school understanding exploits. While they can be augmented, Arcanists are not full time sorcerers or wizards so they do not benefit from the full feature, only the low level abilities as pointed out by Melkiador's second assessment above.
I further recommend the second installment of Mythic Mania from Legendary Games as it includes Arcanist (among other classes) mythic class enhancements which may be more in tune with what you plan, should your group allow 3PP expansion books.