Doom3524 said:
I think that sounds more balanced than what I had before, and it would be much less expensive. Instead of 132,300 gp it would be, for say 10 uses, it would be approximately 49,500 gp (I think, not sure where to find that equation).
If you go past 5 uses per day, you'll break the formula. 5+ uses per day is pretty much synonymous with unlimited use. My suggestion would be to either go with the unlimited use cure light wounds version that ARandomGod was talking about, or change your heal quiver to 3/day. Even then, I wouldn't allow it as a DM.
Your cost (for 3/day Heal) should look like this:
Use activated or continuous item formula = Spell level x Caster level x 2,000gp
6 x 11 x 2,000 = 132,000
Charges per day formula = Divide by (5 divided by charges per day)
132,000/(5/3) = 79,199.999999999
No space limitation formula = multiply entire cost by 2
79,199.999999 x 2 = 158,399.999
Round that up to 158,400.
I've been wrong with those formulas before, but that looks about right to me. I'd say that the fact that you have to hit your target balances out with the fact that you can heal a target hundreds of feet away.
For reference, the cure light wounds quiver (by the above formulas) would run:
1 x 1 x 2,000 = 2,000gp
Double for no space limitation
2,000 x 2 = 4,000gp.
That seems a bit low to me for cure light wounds at will, but considering that both of these quivers simply bestow the spell on the arrow, you are limited by the number of arrows you have (and adding more powers to the quiver would make it much more expensive).