Mulkhoran said:
Just as an aside, what do people think of this? I have it for my Rogue, and it's proved invaluable. I like the style, and I almost think it should let you reload more than once a round, based on your iterative attacks.
From a pure damage standpoint, the average character is better off taking Martial Weapon Proficiency: Longbow. It has the same damage die as a light crossbow, but has better range, can potentially apply a Strength bonus, and is not limited to two attacks per round.
Possible reasons to take Rapid Reload instead of the MWP:
1) If you're Small, you cannot wield a longbow, but you can wield a light crossbow.
2) If you have a Strength penalty, it reduces your damage from bows, but not from crossbows.
Other than those two, I can't think of a situation where a longbow would lose out to the rapid-reloading light crossbow.
Of course there's more to the game than damage. The bard IMC uses a light crossbow for RP reasons, so she gets a lot of use out of this feat. (She's had the same crossbow ever since first level. She won't even get a masterwork one to replace it, hit bonus or no.)