I'd have to agree with Hguols on the most part.
If you just take any old bow of the proper level for your target, it may be less effective, but not underpowered. Choosing a bow with the most useful element and shot type is key. Rapid can be used on almost anything, but won't do as much as pierce against something large, such as Gravios.
The bow's strength lies in it's speed, both attack speed and mobility. The fact that you can easily move, quickly take aim and fire, and both dodgeroll and backstep, makes the bow quite useful.
It isn't a fast killer, but if you're in a party, like Chaa said, it's extremely useful. Your fight will go much easier with a competent bowman.
This post has been edited by The Mighty Lolcano: 18 November 2010 - 02:37 AM