Something that irked me in Oblivion (and Daggerfall, and morrowind to some extent.. really every game) is that all the bows are either made of metal or volcanic glass (glass, ebony) it doesn't really make any sense, and I think a variety of wooden/bone bows would be cooler.
For instance, your basic "beginner bow" could be made of yew, elk bone with tendon string, whereas the higher echelons could be engraved Mammoth Ivory bows or Argonian Black-Wood bows and stuff of that sort. Daedric bows could just be made of Harrada or some sort of deformed tree that grows on the surface of Oblivion, either that or just a really high quality bow with a daedra bound to it.
It just didn't make any sense that bows were made of metal and glass just so they could match the other weapons, IMO wooden bows would be a lot better and more creative.
1. Ebony isn't volcanic glass, it is a dense black wood.
2. Glass is basically obsidian. So at least glass arrows made sense. But I'll be damned if I loose me glass equipment. Coolest crap from all the games.
3. (Don't hurt me) A beginner bow cant be made of yew, you need lvl 40 ranged to use it... (Ok, who gets that?)
4. Daedric is a "demonic" material, so it should be able to be used for anything, no matter how impractical.
@ archmage: The pullys on compound bows are also for power, as they allow for much more stored energy to be transfered to the arrow. So its a double-whammy system benefitting the archer in 2 ways. Love them bows.