Interestingly it plays a very small role in our Thursday night games. I'm not sure anyone in the party carries a bow, and if they do, they use it very rarely. Interestingly the kids game I run on Saturdays, I think everyone has a bow...but for the cleric and illusionist...as they shoot the crap out of any monsters as often as they can.
Here's a nice diagram:
The age old question of how many arrows one could get off in a round continues to plague our table. Castles & Crusades' official rule is one arrow per round. This causes a bit of rancor at the table from some players. My guess is that it will never be settled. I'm not sure about DCC RPG or D&D 3/4/5 but its probably two. I think specializing in a bow might be the best route to improve this, or even making it a subclass of the fighter...of course that's a slippery road to rules, rules, rules.
Of course, this video sheds some interesting light on that question: