I just picked this up and I have to say, I am not seeing it. Perhaps the 90% of cases where I still only retrieve 1 arrow are situations I normally would have gotten none? Anyone else able to confirm it's working as intended?

I don't see this perk here

http://www.uesp.net/wiki/Skyrim:Archery


Edit: found it. Silly me

I don't know if it's working or not, but I know it's not worth taking.
Arrows are easy to get as they are.
Hell, lot of times I even didn't know what to do with my arrows. >_>

Works for me. =)

You never get more arrows than you fire, you just get almost all the arrows you fire back as opposed to some.

works for me too.....and I think its quite useful for my character. It would take 5-7 arrows to take down an enemy, meaning I could easily clear 100+ arrows per dungeon. This would set me back about 500 gold to replenish.......now I can go 3 dungeons or more. Increase on investment for the win!!!!

From what I can tell it is working. Is it worth it? Depends on how quickly you go through arrows and if you want the Ranger perk, which I find to be very useful.

It's required for the Ranger perk. Doesn't really matter if it works.