Personally, when thinking about arrogance, I divide the world into a) the deliciously arrogant and b) the unpleasantly arrogant. The deliciously arrogant have flair and panache, the unpleasantly arrogant lack insight and are ploddingly direct. I really enjoy watching the deliciously arrogant operate: you can see the sheer joy with which they glide through the world using a mix of force of personality, conviction and elegant wordplay. The difference between the two groups is an emotional awareness of others. Add emotional awareness to arrogance and it becomes delicious. Without it, it is just unpleasant. Both categories of person can potentially be dangerous, but the delicious will metaphorically slide a stiletto through the ribs whereas the unpleasant will take a sledgehammer to your skull.
This is perfect and pretty much sums up how I feel.