Wayne,
Arc-flash incident energy is mainly a function of the magnitude of the arcing current and how long it lasts (time). If you think about a molded case breaker, it has two protective functions - the long-time (thermal) and the "instantaneous" or magnetic. If the arc current is such that this breaker will trip on the thermal curve, the arc-time could be two seconds (generally used as maximum arc-time) or much longer in theory. If the fault current is higher and the breaker trips on the magnetic trip, the arc-time might be 3 cycles or less.
For arc-flash in the 480 V world, if you are downstream of a molded-case breaker tripping on the magnetic curve, the incident energy will be manageable almost regardless of the available fault current. It's really difficult to get over 8 cal/cm2. But if the upstream breaker is tripping on its thermal curve, you're screwed because it is so much slower. This is why incident energy when running on a standby generator is often WORSE than when connected to the utility.
I can send you a couple of examples if you're interested.
Cheers,
Dave