The default value for arc_no_grow_shift may be not the best when using several hundred of GiB ARC and should be exposed as a sysctl.
Alternatively, it should be possible to modify arc_grow_retry to achieve the same thing.
Note that the current default value of 60sec for arc_grow_retry seems to be too big for intensive use of ZFS, at least in my use case.
Also, we should consider to make zfs_arc_overflow_shift modifiable too but I'm unsure if we need to force it to be smaller than arc_shrink_shift or not (which is already exposed as a sysctl).