[edit] Doh! Thought I was still in PC H/S section. Damned tabs. Sorry console folks.
The fact that you cant even hit things from a good distance away, when you actually should be able to, is annoying. It makes ranged combat from far away, not viable.
There is a thread around here with a fix for that. I wish I could remember the ini setting.....*looks*.....found it.
[Actor]
http://www.gamesas.com/index.php?/topic/1279548-archery-magic-range-limit-fix/ That's the line, number to use, and a link to to the post itself.
I used it and can now hit things I can barley see. Wolves are just black smudges way off in the distance, and after a bit of range find, I nail em.

Archery sniping is so fun in this game.
P.S.
Range finding: Shooting arrows, and waiting to see what direction they look/move to. If the arrow lands behind them , they turn around, ahead, and they'll either stay, or move in your direction depending how close it is.
Archery sniping is so fun in this game.