At the moment, i find it fairly difficut to make a bow and a suitable number of arrows.
I need to wait till night time, kill zombies for feathers, and siders for string.
Now since spiders string can be turned into wool blocks, why not add a spinning wheel of sorts that would allow a block of wool to be turned back into string.
This way you could gather strgin safely and easily during the day to make a bow.
Next will be arrows, Feathers only come from zombies, which again are hard to find, at night.
It would be great if featers could be dropped by chickens, which could be domecated to produce eggs, and killed for feather and raw chicken, this would allow safe accumulation of feathers, which you need to get an awful lot of to make enough arrows to have a fun hunting trip of a night on hard mode.
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I think crafting wool into string has already been suggested, but it's a good idea. You can already craft metal and diamond blocks backwards and it is rather difficult to find string as it is. However, that hasn't really been much of an issue because one bow lasts forever.
I'm pretty sure chickens will come eventually. They had better. Zombies dropping feathers is obviously a placeholder as it is. Raw chicken would probably overlap with pork, though. I'd expect that each harmless mob should give you a different resource. Sheep=wool, pigs=health resource, chickens=feathers. If they did drop eggs then the egg mini-blocks should just spawn every once in a while nearby. Anything else would be too complex.
I also suggest that you can make arrow heads with other materials than iron (something that I am sure has already been suggested as well). Flint's a good start, as would weak wood-headed arrows.