I did a quick search and didn't find a suggestion like this posted before, if I missed such a post then go ahead and delete this.
I play mostly as an archer and I must say that I love the slower speed of the bows in cRPG, it is much more realistic and challenging. But one aspect I find frustrating is when trying to time a shot the delay of selecting an arrow from the quiver and nocking it is constantly factored in.
So my suggestion is to make shooting a bow two sequences instead of one long one. Sort of like reloading a crossbow, you would have the first sequence of selecting an arrow and nocking it (this would be the longer sequence, obviously), then the second sequence of drawing and losing.
Once an arrow is nocked you would only have to repeat the drawing sequence when timing a shot. And if you switched weapons while and arrow was nocked you would have to nock an arrow all over again. (And a possible nerf for this would be when you switch weapons while an arrow is nocked you would drop that arrow).
This would be more realistic and the overall rate of fire for the bows would still be the same. Just a suggestion, not sure if this would even be possible animation and coding wise.