Hey, I'm not theorizing, I've actually tried this

Changes to arcNumber have no effect until you saveenv and reboot.
If you'd like the gory details: machine id (i.e., arcNumber) is not a kernel command line parameter so it can't be passed through bootargs; instead, it's a separate parameter to the kernel entry point function. If you look at
uboot git source, you'll see that the code populates kernel command line from bootargs during the kernel boot process but sets machine id based on bi_arch_number field of a certain structure, which is populated when u-boot is loaded, not when control is about to be passed to the kernel. The git uboot code actually does allow overwriting that value with machid uboot variable but, alas, that part is not present in Marvell's uboot that is shipped on iconnect.