I think it's fine the way it is. No need to nerf it in my opinion. In fact you can make a good argument that archery is not strong enough.
No localized damage please. This isn't CoD.
I actually would very much like localized damage, and I was disappointed when I heard that it was not in the game.
Yes this isn't CoD, and it isn't Fallout 3. But gameplay wise it is similar to Fallout 3. And Fallout 3 (and fallout new vegas) had localized damage.
Begin shot in the chest should do more damage than being shot in the heel (unless the target is Achilles).
And being shot in the knee.... oh never mind.
Nerf this, nerf that,is this the Gears 3 message board? ...
According to this board it seems like everything in the game is either overpowered or underpowered or both.