It really is rewarding. I always loved playing archers, and have enjoyed them from Morrowind to this game.... but to me, Skyrim definitely provides the best experience in the series when it comes to archery.
Stepping into an ominous dungeon room, finding a dark spot, getting into stealth and picking off monsters one by one - even the tougher ones - and moving slowly to other dark spots without giving away your position is an absolute thrill.
I don't use magic (save for some minor healing if and when I get jumped on while out in the wilderness), I don't use companions and almost never use melee. Trying to get the job done with pure archery often necessitates re-evaluating the situation, but I find I greatly enjoy that.
