I don't think we know enough about the 3.5 spell changes to say. I strongly suspect that Divine Power has been made less godly, as has Divine Favor. The changes to Greater Magic Weapon, and bow and arrow enhancement bonuses no longer stacking, already shift the balance of power towards the ranger.
If using suppliments, the Persistent Spell makes the 3.0 cleric ludicrously powerful. Also note that the Divine Might feat also works with ranged weapons.
If using suppliments, a 3.5 Ranger with one level of Cleric may be the best archer of all. He'd sacrifice +1 BAB, some skill points, and slower access to higher level abilities for two feats and turn undead, which can be used to power the Divine Might feat.