Long Bow - more power, but slower draw time.
Short Bow - less power, quicker draw time.

A long or short edition would be available for every armor/weapon set. Would add a bit of much needed depth for the archer class and it would give you the ability to adapt your gear to your playing style even further.

Side note: What do you guys think about adding magic to archery? Such as lighting an arrow on fire, or shooting a frost arrow? Maybe an arrow that freezes the opponent on impact? Even though this is like enchanting, it would still be cool to have this option without requiring you to recharge a weapon. Example of what I mean: Bow held in left hand and spell held in right. Then the spell would effect the arrow you draw.