The Sims Online uses a similar system to this. They have their primary skills that go up to a rating of 10 each (sometimes more for slight bonus as well but a lot harder).
The thing with that game is skill degradation. As you use one skill, other skills go down. So it's a juggling match on trying to keep three or four up (some people keep them ALL up high) and still have 'fun.'
In Ultima Online, you had a total number of skill points, and they could be spread amongst all the skills you could learn. You could never really go past the skill point number, though, so when you reached your cap, that was that. You'd have to lower (and then use the skill to put more point values in) in order to get anywhere.
Both were fun games, IMO. Skill based systems are a different breed, and it'd take a rehaul of some systems in GK in order for anything like this to work.
Excellent run down on what has been said about bows, Satrek. It'd be nice if there was a post about it in the suggestion forums; perhaps get more talk about it there
