As in, I don't need to compensate for gravity?
As in, no 'arc' in 'archery'?

Crossbows have less arc (I think) but they still arc.

Surely all you have to do is crosshair the target? this is the dumbed down option after all

Crossbow bolts do arc. But since there is that feature Bethesda added to make things too easy, bolts and arrows are shot a few degrees higher than the crosshair.

OK, thanks folks

This, though it also depends on how close or not you are from said target. Experiment to get the best shot which works for you

Crossbows seem to have a flatter trajectory but a faster drop. When shooting from very long range you may need to have the crosshairs quite a bit above the target.

Added: A good place to test this is Wolfskull Cave. Go out onto the ledge with the braizer that you find immediately upon entering the second cell. Look across to the arch over the stairway. You will see a Deathlord (or some other high level draugr). Try shooting at him. I found I needed to aim about a full body length above him in order to hit him.