I forgot this point:
As the number of monsters standing in a straight line relative to the bow-user increases, their DPS also increases. It is not difficult to find a melee enemy and a caster/archer and arrange the melee enemy to be in front of the caster/archer. Considering most enemies approach in packs of 5+ with a caster among them, catching 1 melee, the caster and any passing melees in your shot is standard.
Making Improved Precise Shot and Manyshot mutually exclusive and modifying Manyshot to be sustained damage instead of burst damage would be amazing.