I keep hearing people saying "well balanced cue". What does that even mean? No removable weight bolts inside the cue? or is it where the balance point is on a 58" cue? Maybe 25.5 inches from the butt of a 58" cue?
The preferred balance point is an individual preference.
It is messured from the end of the bumper to the balance point.
When you buy a production cue, you can mess with it a bit by adding or removing the weight bolts (if it's possible).
Once you have enough experience and you know what weight you like and what balance point you like, if you can't find a production cue like that, you need to go custom. But it's very rare that you can't get an off-the-shelf cue that will be in the acceptable range of weight and balance point.
The balance point can make the cue feel lighter or heavier and, in my opinion, is more important than the cue weight.