Artoomis said:
Ah, but remember, from an ecomonic standpoint, that arrows are destroyed when used, unlike other magic weapons.
I could give you a serious answer, but I'd just be repeating what Werk already said well. So instead, I'll give you a non-serius quip:
Nobody said the archer had to be smart!
Seriously, though ... I do understand what you are saying about the economic aspect and ammunition being destroyed.
A melee weapon (or fully stacked out bow with normal arrows) that is a +2 human bane flaming frost shock thundering weapon would be the equivalent of a +7 weapon that would have a price tag of ~ 98,000 gold at the local magic mart.
A bow that is a +1 flaming frost shock thundering weapon would have the equivalent of a +5 weapon and would retail for ~ 50,000 gold. [That's a difference of 48,000 gold by simply removing a +1 human bane property] If you allow the arrows to stack, you could get a set of +1 human bane arrows for a cool 8,000 gold. So for the same price as the original, you can buy 6 sets of 50 magically enhanced arrows to get the same attack. To me, 300 arrows is not balancing - and this unbalance only gets greater as the power of weapons increases due to the doubling nature of the weapon prices. Oh, and it actually is more likely more than 300 arrows, because some of the arrows that miss will not be destroyed. So the archer will get more than 300 shots out of his 300 arrows - or he should!
In the current system that 3.5 uses, you can already us this ammo being destroyed to your advantage if you are smart and select your weapon attributes properly. [Bane is a good one for the arrow IMO] A +2 flaming frost shock thundering bow would still cost 72,000 gold. That is 26,000 gold off the original price of 98,000 gold for a fully decked out +7 equivalent weapon. Even under the current rules you can still buy 3 sets of +1 bane (anything) arrows and still have 2,000 gold in change left over. That's 150 arrows! I can think of plenty of bane targets I could pick and just carry those arrows around!
Anyway, I personally think the way that they have the rules is fine. If the archer is smart about where they pick their special properties ... they can still come out ahead without stacking ammow and bow damage.
If I can insert my honest opinion, I personally think that in future generations of the game that ammo should not be enchantable. It should still be able to be made out of different substances (darkwood, alchemical silver, etc) but I do not believe it should be enchantable. That would put the archers and the melee fighters on the same page. As it is, the melee guy needs a new weapon for each time he wants to be versatile - especially with the bane option. The archer merely needs to reserve the bane option for his ammo and buy in small quantities as needed. [I think this is somewhat balanced by the fact that melee people can Power Attack ... but then this really shows how archers have it good over melee specialists who cannot Power Attack! And sneak attack isn't really an arguments, because there are ways to sneak attack from an archer's perspective as well.]
I still consider 3.5 ways fair and balanced - but slightly tipped in favor of the archer. Worst case scenario for the archer is to fire mundane ammo - at which point he's only on the same page as the melee guy from an economic standpoint.