I can see how some players and GM's might think that RRW, but remember to tell them that if they want it that way the NPC's can also have it that way.
Also if you think about it it sort of makes some sense. If the bow is of quality it might be easier to hold when aiming [even if it it not that long], maybe the pull is easier, better strings and materials will project the arrow faster or more accuratly.
On the arrow side the head might be of better material or design. The shaft is straiter, or can not distort after a number of shootings. The flights might be of better material, or immune from bending or being distorted upon entering of a target.
Also arrows might not be able to be retreved intact from the target. In this case IMo you could keep the bow bonus adding to the arrow bonus as most arrows of "quality" will break after a few uses. Or you could even reduce the arrow bonus after a number of shots.
MDC