Arrows are in a simulated projection you wont see them bend or curve to hit units seen in many other games, they arc depending on distance, the power of the archer/bow will in influcance the final range of the unit, a weak goblin archer will only have the range of about 70% of a Elven Ranger. Range also gets height bonuses, but those are not overpowered due to momentum vs drag & gravity.
We plan to have a variety of stances and abilities for archers based upon their strengths, such as arrow volleys over walls, and high arc spread for longer distances for less accuracy, we are still tweaking it, but from the looks of things, we could remove the entire range limit all together and just let the player tell when to shoot and if the arrows don't make it... then they don't make it,,, same thing happens in real life right?
Maybe we'll make a 'Automatically move within range' button so we let you decide, risk wasting arrows and missing the target or be efficient and within range; with this feature would probably come a wood cost per arrow launched, something like 0.05 wood, 20 arrows per 1 wood, its easy to get wood, trees regrow
As for technology, yes there will be some for bows and arrows, at least for Men and Elves, Orcs sorta get left behind when it comes to technology, heh.