I'd only change it so that PD doesn't give wpf penalties - that way, people could choose to make a slower, less accurate but more damaging high PD archer, or make a more accurate, quicker firing, kiting type archer but with bad damage.
Btw, I made a archer postpatch (rather, respecced my existing twohander into one), but with powerstrike and some (50) polearm wpf. I can still get kills with a bow (using a strongbow, 6 PD) despite being fairly lowlevel (so agi suffers), and of course, as long as you have powerstrike you're not really handicapped in melee either (and sometimes it's just easier to come in and slash a few people in melee, anyway, rather then eg fire into melee fights like a retard).