Well; on a magical shortbow; you already have a 100% chance at a hit area with your special. Add the fact that you get another chance with hit area; you are hitting everything (spawn) or everyone (pvp) twice.
Add a hit spell (Velocity) you are now hitting the target 3 times (Regular hit, Chain Lightning hit, Velocity).
Adding the swing speed, you can do this at cap swing speed.
Balance is desirably to almost every serious archer pvper bc chugging saves lives (Cure&Heal), refreshs stam, and adds buffs without removing your ability to deal damage.
I think I covered it all for ya, hope that helps.
High bid is still 50m though. =]