Unless you alchemy smith enchant loop, your bow will not be as strong as dual wielding incinerate, and if you say it is, you are just talking out your ass, cuz i am using just smithing at the moment, and have an ebony bow and it only does 100 damage, incinerate dual wield, does 180, so yeah, shut it.
I'm sorry to burst your bubble, but you're spewing crap. You get your smithing to 100, then you enchant a smithing suit for yourself and THEN you drink a potion. At enchant 75 with perks, you can easily make four items with +20% smithing each. Then you're at 180 smithing. Drink a 50% potion and you're at 230. Mind you, at max enchant you'll go even higher. At max enchant + normal potion of enchant, you'll go even higher than that, but let's ignore that for now, since smithing 230 is enough. An ebony bow has a base damage of 17, it can be made legendary at smithing ~90 for another +10 to base damage, and I believe every 20 points after that adds +1 base damage, so at 230 smithing it adds up to a further +7 points of damage. Thus the base damage of your bow ends up at 17 + 10 + 7 = 34. And remember, smithing could go loads higher if we milked alchemy and enchant, but we're not.
Now it's time for the archery perk. If it follows the other damge skills then 100 skill gives +50% damage and perking it adds another 100% damage. Base damage +150% damage means 2.5 x base damage. Now we're at 85. But we're not done yet, because there's this nifty enchant called "Fortify Archery" that there's no reason whatsoever to not use. With 100 enchant and perks, it peaks at +40% archery damage and you can have four items equipped with this enchant, so that's +160% damage. 85 x 2.6 = 221.
Effectively, every point of increased base damage turns into 6.5 damage after modifiers. Thus for every 20 of extra smithing you can dig up, you get another 6.5 damage. If you can dig up another +100% to smithing then your bow should do 250 damage instead. But even at 220, you can always add two enchantments (once your enchant reaches 100) for probably another +50 damage, possibly more. If you take the damage enchantment perks, drink a potion, and have the damage augmentation perks from Destruction then you'll easily get +50 damage. At that point you're doing 220 damage from the bow alone, 50 damage from the enchantment and 10-20 damage from the arrows.
Not impressive enough? Well, do a sneak attack. Without the Deadly Aim perk, you'll just do double physical damage + enchantment. That's a mere 230-240 x 2 + 50 or on the good side of 500 in one hit. With the perk, you'll do 230-240 x 3 + 50 or 740-750 damage in one hit. Please don't tell me that this isn't impressive. And remember, that's WITHOUT any looping whatsoever. If you start milking enchant and alchemy for max smithing and max damage enchantment, then... AUCH!
No, it's not overly fast to sneak attack everything but at max sneak + muffle, it's fairly easy to sneak around and it's also fairly safe. And enemies are dumb enough to let you hit them for 700+ damage and forgot about it half a minute later. How does a 200 damage incinerate match up against that? And mind you, I've got over 2000 arrows that will do that much damage. How many incinerate spells have you got?