One of my alts is an archer, after the big patch I though archery was fine if strong until they introduced another archer nerf. Archery then went to crap with the shoot speed nerf and I have not touched my alt much since then.
Right now archery is the least deadliest class out there. My alt has a PD 6 and 145 wpf. In testing on the duel server at a medium range for an archer, shooting a Very Strong Bow (heir-loomed Strong Bow) it takes 1 to 2 Bodkins to put a naked down. It takes about 4 to 5 to put down a guy with Body armour of 28 and it takes 10 arrows to kill a tin can Body armour 50+, which does not include 2 arrows glancing off him.
With the reduction of speed archery is not fun anymore, damage is not there, killing power is not there. The aiming reticule is useless since even close up shots do not fly in the center of the reticule. Only use for the reticule now is as a reference point to where you are pointing your bow.
I have not tested it but I suspect from some siege server experiences that long shots with bows are now pretty much useless since everytime I got hit from far away the damage delt to me with body armour of 39 was negligible (I get hurt more by failing a short distance). Overall do not bother with being an archer right now, go with throwing. At the same distance you will get more bang for your buck throwing War darts then you will shooting arrows plus you will be able to put more points into melee as a thrower.