Bound items are basically Daedric, the highest tier.
No they aren't. They have the Daedric graphic, but are not nearly as powerful.
1. Without the bound weapon perk they are lower than glass weapons in damage.
2. With the bound weapon perk, they are higher than standard glass weapons, on par with Ebony, yet lower than the upgraded versions of either.
So unless you plan on powerleveling smithing, they are better than pretty much everything you can find normally until around level 30-35 or so.
If u compare the normal uncrafted, unimproved bows. But when u use enchanting, smithing and alchemy the bound bow gets left behind.
They get left behind with just smithing. That doesn't make them weak though...far from it.