zomg... cant believe you said that d3th !!! **shock**horror**gasp**
TBC was the best time ever to play a hunter. For sure before TBC, hunter dps sucked kodo nuts, but as it is now... damn its never been a better time to play a hunter.
Honestly, any hunter failing at dps, just haven't been reading any forums about hunter tuning mechanics + dps builds
Keywords that comes to mind... cookie cutter builds, BM macro's, Hit rating etc.
But yes, if you are playing MM spec you will fail big time on dps... survival you can push out decent dps (with the right 1:1.5 shot macro + specific build) ... but BM is where the hunters with the big coconuts are slapping the other dps classes

MM changed more to a PVP / Arena build after TBC came into effect.
As for storm... your ranged weapon is the easiest part of your gear to select. The other gear items / gem choices / enchants I would say is more tricky to work out if you wanna tune your hunter to the max.
A quick and short answer to your question. It depends on your build. If its BM, and you dont have any haste effects... Badge bow (the KFC chicken bow) is your best bow until you have access to haste gear, and 3.0 MH / BT weapons. If you are pre-SSC level gear, and dont want to farm badges, the Merciless X-bow is also damn good. Probably the easiest to get now if you are not much into farming badges.