In short, given the current implementation, we have (at least) six different ways to write nil: nil, 'nil, (), '(), #f, and '#f. These six things are all considered identical within Arc. The same is true, for instance, of 'a and (quote a), which are the same thing entered differently. You can check that they are the same with is; I won't put all those examples into this post.
I have never said that Arc lists aren't nil terminated--clearly, they are. What I'm saying is that Arc lists are nil terminated for any representation of nil--whether that representation is nil from Common Lisp, '() from Scheme, or #f from a leftover artifact of using the mzscheme reader.