As far as I can understand it, the "happy medium" would be to simply drop the restrictions on weapon drawing and dropping.
Let's face it: as long as the target is more than fifteen feet away, the archer has a definite advantage because he can shoot (if the weapon is ready), drop his bow (held in his off hand) and draw a melee weapon (in his main hand). The only disadvantage he would suffer is that equipping a shield would take more time than he probably has. But otherwise, he will be able to shoot AND then defend himself properly.
This is where the combat round definition fails IMHO: basically, movement should be "outside" the combat sequence and initiative, in that you can defend, but not attack in melee during a round in which you move, unless you are already within the "close range" area where an opponent cannot just ignore you.
So if you start combat 60 feet away from an archer (and are determined to go to melee combat), the archer basically has free rein until you reach the "close range" area where you become a problem (what he can do while you run depends on your pace). Once you reach the close range area, you will be able to act at the beginning of the next round. So when you reach your archer opponent, he will probably have already shot you once, dropped his bow, and drawn a melee weapon to be ready for you.
But if you're half smart, you have a shield and he has not, and you had cover during your run and additional DB now that you're in melee.
(the short version is, if you cannot "move in and melee" in a single round).
In order to complete the "happy medium", you would also have to implement a sticky effect of sorts - if you are in the "area of concern" of an opponent, you cannot simply move away without meleeing, this would be an invitation to be skewered. You have to either melee, or try to disengage properly, which is an action in itself that requires activity (off the top of my head, I would state that disengaging requires a 50% activity, leaving the other 50% for defense at half OB. Disengage is successful if you are not hit during the round - at the end of the round, you are considered having "moved out" and can move freely the next round).