I'll not extend myself on why ranged is subpar. Many people did it before me, so I'll just set the main points:
- Ranged requires too many feats to be viable, while any other style requires less feats, and deal more damage.
- Manyshot is too powerful and is pulling the overall archery damage down (dev's words)
- Racial Arcane Archer PrE makes other classes better archers than the class designed to be the game main archery option.
Let's get down to each point and fix it:
Feats
Point Blank Shot: Got a buff on U14. Is a good choice now. I think it is on par with Power Attack: Deal more damage that is multiplied on crit. Not a fixed damage bonus, but zero to-hit penalty.
Zen Archery: Let us get ki with bow attacks. Simple as that.
Bow Strength: Should be granted with proficiency. If you are not proficient on bows, use a crossbow (simple weapon, should be strictly worse than a martial equivalent). There is no reason that a fighter could throw an axe with a strength damage bonus, but not a weapon developed to use your strength like a bow.
Rapid Shot: Plain removed. Raise the base archery rate of fire. It should fire 3 arrows in the same time it takes for a light repeater without Rapid Reload to fire AND reload. So, if no other feats are taken, Bow is on par with a repeater (same damage, equivalent crit profiles).
Precise Shot: Have a real benefit to the combat style. Stay as is. Remove Archer's Focus.
Improved Precise Shot: The feat to go for maximum mobility. The bigger drawback is the Dex 19 requirement. Sure, in PnP it was the archery capstone feat. But Greater TWF is also the TWF capstone feat, and got the Dex requirement down from 19 to 17. Fair is fair. Drop the Dex requirement to 17 too. Archers will get the Dex higher anyway for Combat Archery, but it allow us have options in character building (going for Combat Archery or not?).
With those changes, you need a base of 4 feats to be a viable archer (PBS, PS, Improved Critical, and either IPS or Manyshot), and up to 7 feats maximum (Adding both IPS and Manyshot, Zen Archery, and Combat Archery).
Manyshot
Becomes a Ranged Offensive Stance (like IPS) - You fire 2 arrows at the same time. Each shot have a -2 penalty to-hit.
Add the following enhancements:
Improved Manyshot I: Fighter/Ranger Enhancement (avaiable at level 11) or Elf Enhancement (avaiable at level 15) - You fire 3 arrows at the same time while on Manyshot stance. Each shot have a -4 penalty to-hit.
Improved Manyshot II: Fighter/Ranger Enhancement (avaiable at level 16) or Elf Enhancement (avaiable at level 20) - You fire 4 arrows at the same time while on Manyshot stance. Each shot have a -6 penalty to-hit.
Deepwood Sniper I and Kensei Shortbow/Longbow Mastery I will add a watered-down old manyshot back (clickable for a 6-seconds 300% Haste burst) expending an Action Boost (Sprint Boost for rangers, Haste Boost for fighters). This stay on par with Endless Fusilade (also a PrE clickie).
Deepwood Sniper 2 to halve (-1, -2 and -3) the manyshot penalty to-hit. DS 3 removes it. Add the same benefit to Kensei Shortbow/Longbow Mastery 2 and 3.
With this, Manyshot will stay a great feat for general archers (no single feat DOUBLES your attack rate), stay even better for the classes that have the potential for raising it (Fighter and Ranger), and give a nod for people that specializes even further on it (Deepwood Sniper and Kensei). This also put Elves back on the top of archery races (helves still have AA, but only pure elves get the improved manyshot).
Racial Arcane Archer
Simple Fix: Arcane Archer don't count as a Ranger Prestige Enhancement. It counts as a Racial Prestige Enhancement.
It will put again elf/half-elf ranger on top of archery style, since they could get arcane archer and deepwood sniper at the same time. Also prevent future problems with Dwarven Defender and Warforged Juggernaut.
Arcane Archer also need more twinking itself (more elemental imbues, different terror arrow mechanic, etc), but it's not a problem for ranged combat, but for the prestige itself only.