On the PC version, sometimes arrows don't shoot properly. Although you pull the bowstring back all the way, the arrows don't shoot more than 5 or 6 feet. I haven't determined what causes it, but to fix it, I traded all of my bows to my companion, then traded them back. I'm not sure if that will work every time.
Here is a video demonstrating the problem: http://youtu.be/NhmENzSTnT0