Not possible. No such thing as a "complex endorsement" before 1997.
However, what someone could have received before 1997 in an Arrow III (which has a 200HP engine even though its official designation is PA28R-201) is a "high performance" endorsement, since before 1997, both retractable and over-200HP airplanes were lumped together in one regulation as "high performance."
Completely legal as long as you got some PIC time in one of those over-200HP airplanes prior to 1997. Until 8/4/97, that pre-97 "high performance" endorsement earned in an Arrow allowed that pilot to act as PIC in any "high performance" airplane, including those with over 200HP as well as those with retractable gear. However, in the 1997 Part 61 rewrite, the FAA split this group into "complex" for those airplanes with retractable gear/flaps/CS prop and (with a great lack of thought or foresight) "high performance" for those with an engine of more than 200HP. This foolishness created just the confusion upon which this entire thread is based.
If someone earned a pre-97 "high performance" endorsement in an Arrow, that endorsement is no longer valid for complex airplanes under the current version of 61.31(e). However, the PIC time they logged as sole manipulator on that training flight grandfathers them for complex under 61.31(e)(2), so their lack of a complex endorsement and the fact that their old HP endorsement was obtained in what is not today considered an HP aircraft are moot.
OTOH, the person who got that pre-97 "high performance" endorsement in an Arrow cannot use that endorsement to meet the current 61.31(f) HP endorsement requirement, since that endorsement must have be earned in what is now considered a HP airplane, i.e., one with an engine over 200HP, and an Arrow isn't that. Of course, that person could have, before 1997, used that pre-97 HP endorsement earned in an Arrow to act as PIC in a 230HP C-182, and then after 1997 used that C-182 PIC time to meet the grandfathering rule in 61.31(f)(2).
The problem occurs when the pilot who got a pre-97 HP endorsement in an Arrow doesn't read the rules carefully and never logs PIC time anything with over 200HP before 1997. That pilot may think s/he is legal to hop in a C-182 today as PIC, but s/he is wrong -- s/he needs a new, post-97 61.31(f) HP endorsement earned in something with over 200HP in order to legally act as PIC in that C-182. Bumped into someone like that a few years ago -- earned a HP endorsement before 1997 in an Arrow, flew it a lot, and then traded up to a Saratoga in 2003. The instructor who checked him out in that 'Toga didn't check his log carefully, and did not give him a post-97 61.31(f) HP endorsement in the 'Toga. In 2007, the pilot came to me for instrument rating training, and I discovered the omission. He got one on Day 2 of training, but technically, all his flying in the 'Toga from when he started flying it as PIC in 2003 until I filled the empty square in 2007 was illegal.
If the CFI said that, s/he didn't know much about Arrow III's, since PA28R-201's are only 200HP airplanes. If someone today signed off a "high performance" endorsement in a PA28R-201, that endorsement would be invalid, and the CFI involved would be subject to corrective action by the FSDO. However, before 1997, you could legally receive a HP endorsement in a PA28R-201, because it met the pre-97 definition of HP, even though it does not have over 200HP. It's just that the HP endorsement legally earned then in that plane does not count under today's version of 61.31(f), and someone with that pre-97 endorsement earned in an Arrow would, in order to act as PIC in an over-200HP today, need either a new HP endorsement earned in an over 200HP airplane, or logged PIC time from before 1997 in something that was over 200HP.
BTW, there's a ton of inaccurate information in the posts above, and I haven't the time to address each item individually, but it's all explained in this post.