This really needs to be implemented. One of the key features of a ranger in D&D has always been his/her ability to obtain an animal companion, I still remember a campaign in which I rolled a 100 and ended up with a copper dragon companion.
We already have the wolf pet, iron dog, skelly companions, why not give the ranger some love? While you're at it, how about some love for actual archers??? (Bow combat is still the red-headed stepchild in DDO).