All Excel to table is doing is converting it essentially into a more readable format (text) so arc can read it. Once the table is added to arc, you can right click it and 'Display X Y Events.' Select provided you have coordinate columns, select the column(s) containing xy events. This will create an xy event layer that can be exported as a shapefile. Just right click the xy event layer and export data. If for some bonkers reason you don't have coordinate column, you'll need to calculate them by adding fields for x and y. Do this by adding 'double' field type and use calculate geometry to get the x and y values. Now you're ready to reimport it. However, it really makes more sense to get comfortable with manipulating tables in Arc if you're going to be using it heavily. Excel is great for making pretty financial reports, but doesn't have much place storing spatial data.
