To answer your question Tybal, your observations are correct. Since the last patch, low tier bows have a higher missile speed than high tier bows ( prior to the patch it was the other way round ). A low tier bow will make hitting targets easier at the expense of damage.
Also low tier bows have faster draw speed, which - regardless of their accuracy value - lets you reach the "optimum accuracy window" faster than slower bows, which effectively gives them more accuracy than high tier bows at lower wpf levels, or to put it differently: If you dont have enough wpf, you wont be able to draw a big bow fast enough before your cone of fire starts enlarging.
That said, a pure archer build ( e.g. 18/24 with 8 wm and 170+ archery wpf ) can shoot a longbow just as accurately as your build is able to shoot a nomad bow, or even more accurately. However, this excellent shooting capability of such a particular build comes at the expense of almost no melee capability in terms of melee wpf and powerstrike ( as long as you are not high lvl ).
In conclusion, a skilled archer with a pure archer build will probably do better with a hard hitting bow since the chance of getting one-hit-kills with headshots is a lot bigger with a longbow instead of a nomad or horn bow. But in the end there is no wrong or right bow. I myself am using a nomad bow almost exclusively since the patch because it works really well for hybrids. You pretty much rely on getting multiple headshots to kill anything in armour but in turn are not forced to pump tons of wpf in archery in order to anything or drawing faster than a snail.