IMHO,
If you look at a CFL roster, it is mostly people who played US college football and simply were not good enough to make it in the NFL. That does not make it "bad". All minor league sports (Nationwide golf or NASCAR, minor league baseball, NDBL, etc) is that, and therre is nothing wrong with that, as long as you keep it in perspective. For that mattter, college football is broken up into divisions, and, in to opinion of most observers, clearly into tiers of talent within those. What it does do is make arguments that the CFL is anything besides a secondary league foolish.
It is good football and, IMHO, preferable to watching the NFL's exhibition season (most of which are played by players who, likewise, are not good enough and will be cut).
Arena "football" is not football, IMHO. Its not interesting to me. If you like it, great, I just do not see the point of it.