After setting a bow to a hotkey, 2 for example, I can press 2, and switch to the bow. When I switch to another weapon, however, my bow automatically unbinds itself from the number I set it to. So basically, 2 is unbound and does nothing. Is anyone else experiencing this? It's very frustrating not being able to hotkey a bow.

Yeah, Having the exact same problem, not just you.

Bit annoying, but ive got bigger ones atm...

I'm sorry to hear that; I hope you get a fix man. I've also discovered that this isn't just the hunting bow, my steel mace unbinds itself after a weapon switch.

This happens to me when I have 2 or more of the same item, very frustrating..

Oh so it has to do with having multiple items? Good find!

Yup, just looks like I'll have to keep my extra weapons on my follower.

Nope, happens for me even if I only have one of a type of bow. Assign the hotkey, it works once, then as soon as you switch to any other item the hotkey assignment disappears.