This was a typical game of two halves in which the game sprang to life after the break following a turgid opening 45 minutes.
Goal-scoring chances were at a premium in the first half, with both sides failing to muster a shot on target between them.
Both sides struggled until Queens created an excellent opportunity on the half-hour mark.
Mark Ferry slid the ball through to the unmarked Stuart Kettlewell inside the area, but the midfielder's shot deflected off Arbroath defender Roddy Black and behind for a corner.
Seconds later, a mistake by Queens defender Andy McGinty gifted the ball to Alan Brazil who saw his effort deflected over for a corner.
The visitors eventually broke the deadlock in their first attack of the second half. Marc McCulloch laid the ball across to the unmarked Steven Cook, who fired low into the corner of the net from 16 yards.
Arbroath's goal spurred the Spiders into action and they levelled 12 minutes later. Debutant Kevin Proctor went through one-on-one with the keeper and coolly slotted home.
The Spiders then took the lead 90 seconds later. Alan Trouten fired home from the penalty spot after he was bundled down inside the box by Roddy Black.
But a shocking goalkeeping gaff gifted Arbroath an unlikely equaliser. Ian Dobbins netted with a harmless ball as Queens keeper David Crawford misjudged the flight.
Substitute Bryan Felvus wasted a gilt-edged opportunity to net the winner for Queens Park minutes from the end. He went through on goal and lifted the ball over the advancing keeper, but saw his effort go agonisingly wide of the target.