I like the idea of giving it +3 dmg and more speed on the arrow. I am sorda new, lvl 28, and I thought the bow would be the best, but then I realized I have never seen anyone else use a longbow, so I went to the warbow that most people were using, and instantly started to get more kills, most of the time I have a positive kd ration now! Shooting people at long range is not a matter of the bow, but more of your proficiency in the weapon, and dmg on powerdraw. so make the longbow have a little bit more damage and a little bit more speed on the arrow, even if this doesn't completely balance it, it is definitely a big step in the right direction. It is just crap atm, anyone who sais they use longbow, use warbow, faster, very little dmg difference, more dmg output, pew pew. Longbow won't save you an arrow on most heavy plate wearers, so warbow is just overall better in all categories. Having 3 more dmg might look good on paper, but there is something funky ingame that just makes shooting it SUCK.
On another note, we should really be able to hold our bow drawn for a much longer period of time. It is really quite silly that having so many points in proficiency and power draw don't let you hold your shot for any noticeable time! It is just frustrating that you lose accuracy so fast. I can deal with it, but there should be a window of opportunity. this would be of great benefit to archers, and make it a more pleasurable class to play as rather than just fixing a gameplay problem.