I still use it same as always, as an opener.
For opening a battle it's great, because it does hit harder than ice blade, but I don't use it during a fight as it takes too long for the damage.
Edit: I really don't think that I would go through the effort and expense of looking for a good high dps bow for it, the added damage is very small. I think even a white OD level one bow would work as well as any other, it's primarily just a stat holder for priests.
Mine is a lvl 60 bow I got as a drop, with 560 dps, and I may see 1200 extra damage at most. Of course, if you're the type that must have all the damage possible regardless of expense, then go ahead