Just retired my hybrid build :
Lv30 or so
122 wpf in 2h
115 wpf in Archery
18/18
6 PS
6 ath
6 WM
5 PD
Rest in IF
Was using the lamellar armor, a mw strongbow, 2 stacks of bodkin arrows and a Spiked mace.
I was a decent medium range (shoot horse), a rather good close range (shoot inf's body and horse's head) and a good infantry. I'm pretty sure i had more kills with my mace than with my bow.
Hybrids are still possible and viable, but you need to know that a dedicated range will still own you (in my case) and that you can't take the best bow/xbows (2 slots) and the best melee weapon (2 slots), else you don't have amo.
Slot system is close to perfect imo.