I currently have 1.7 million xp left in this particular archer build.
Level 30 (4 420 577 xp)
* Strength: 15
* Agility: 24
* Skills to attributes: 8
* Power Strike: 2
* Athletics: 8
* Power Draw: 5
* Weapon Master: 8
* Archery: 172
Now, I happen to be able to pad the nerfs by having a MW Hornbow and MW Bodkins. A lot of people on NA can tell you that I can still compete, and that my arrows hit "hard enough" to be a problem. The trick is to be able to shoot accurately and reliably into melee to stun and possibly kill the enemies. The main problem, as most archers known, is being complete and utter crap (for the most part) in melee. I'm curious as to why you planned your build to 31, unless you don't plan on retiring.
All that being said, when most people ask me about archery, I tell them to just pick something else. It may be just a personal gripe for me, though, because I hate the new missile speed, and while archery can still do a significant amount of damage, I just feel that you're better off hybridizing with throwing or crossbow. It allows you to still be effective "enough" in range, and still be able to compete in Melee.
On another note, if you DO intend to stick with archery, there's almost no reason at this point (besides being a horse archer) to use the Horn bow over a Rus or Long. Going either, I'd suggest 21-18 or 24-18. While the first gives you more of an ability to hit hard (though not fast) in both Melee and Range, the second one, once again, makes you a Pure archer.