Ahem. Well, if we want to talk balance, shield bump range needs to be increased, since shielders are supposed to be a counter to archers, yet they can practically push the bow into the shield and fire. That's bs. As is nocking arrows while running, and jumpshooting (back in EU1 atm).
That said, they could probably stand to be more effective vs horses, and the 0 slot equipment a bit better.
As for their damage, it's already on the low side really.