Create Arc Polar: You create an arc based on a center point of arc. The first click is the center of arc, the second click (or entered value) is the start point of arc, the last click (or entered value) is the endpoint of arc.
Create Arc Polar Endpoints: Can create an arc without regard to it's center point. You can establish arcs from it's start and endpoint only.
Both allow the creation of partial or whole arcs. If you only need to create whole arcs and know the center points of them, simply use Create > Arc
It's just a part..... cutter still goes round and round....