1 longbow/rusbow + 1 arrow is more effective and less expensive than 1 horn bow + 2 bodkin pack.
That's something new...
Well, I agree that this combo is less expensive, but effective?
About archery wpf, main rule - more you have
effective wpf - better is your rate of fire, accuracy and damage output. For me medium distance shots is possible with at least 75 effective wpf in archery.
For example, with 5 pd and 150 wpf you'll have 80 efective wpf in archery. That's quite good for your repair bills too, and leave you some wpf for melee with standart 15\21 archer hybrid build.