Since I'm on PC, I went ahead and gave my character this spell via console. So it doesn't feel like cheating, I gave it to myself at the end of the Infiltration quest (at Treva's Watch) - according to the wiki, it seems as though this spell was originally supposed to be the reward for that quest, rather than Detect Life.
And wow, what a spell! The damage is just 30, but the arrows shoot fast and more importantly, they stagger everything I've thrown them at. More stagger than Impact; maybe as much as Fus Ro. There also seems to be a little pushback effect going on, similar to what I've observed when casting Banish Daedra at my own Frost Atronachs.
Anyone else play around with this? It's a great little addition to a Conjurer's arsenal - maybe even a bit OP. It's a shame they cut it from the released game, but hey, the joys of the tilde key.