Improved Initiative is definitely a competitive feat for Quick Draw. It's a difference in play style, I like Quick Draw because I pair it with Awareness. If you're not as paranoid as I am and it works for you, more power to you.I think shuriken are a waste for rogues after the two fisted shooter feat came out.
The only benefit I see from using a shuriken now is the +1 to hit, I rarely have a hard time hitting with my rogue as it is, oh yeah and I may just replace quick draw with something else now that I no longer worry about getting a shuriken out, I just walk around with my dagger and hand crossbow out already. If I need a potion it may take me one extra minor action that round compared to quick draw but I can take improved initiative instead or some other feat at this point.

Edit: To expand on my reasoning, I don't pay much attention to the damage dealt on a crit. It's only going to matter 5% of the time and can't be relied upon, though it has a certain wow factor. I put my faith into dealing more damage on average, as I said before. For the Hand Crossbow, you're losing +1 to hit for a possible +1-2 damage and a greater range. Personally, I play very aggressively, so the extra range isn't an issue for me and I don't attack at range much in the first place so the +1 to hit appeals to me more.
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