This is easy...I will be taking two-weapon fighting.
The reason why is simple; they nerfed bows in 3.5 D&D. Bows and arrows no longer stack regarding attack bonus and damage. Now you only count the higher of the two. I am fine with this. Many players felt bows were too powerful in the first place.
Another reason why I am taking two-weapon fighting is because of the insane number of attacks a ranger can get by 11th level. If you take the two-weapon fighting path, you will get 6 attacks at 11th level. Thats whacky!
I know what you are saying, "but Greymarch, the new ranger can get many-shot, and kick serious butt!" Well, many shot is nice, but it has limited uselfulness. Remember, you can only use many-shot if your opponent is within 30 feet. If I am an archer, the whole point of attacking from range is that my opponent cannot get to me after I shoot him. A range of 30 feet is the standard movement for most creatures/npcs, so using many-shot virtually guarantees my opponent is close enough to attack me anyhow.