Here is picture of hunter member in my guild. He have staff where spirit +20 to party member within 30 meter and enchant with +22 spirit. During long fight he change to this staff and just do normal mana regeneration, but other hunter laugh because he can be #3 or 4 top DPS, but he drop down below another hunter who use feign death and drink water. But he is usually in party #3 with 3rd rotation priest + 2 mages and paladin so area effect of staff help others so not big deal. No other caster wanted staff so we give him.
I think for hunter is best to use all mana ---> feign death ---> drink water until 90-95% full mana then start fighting... then 2-3 click and he have full mana.. then feign death timer almost reset so he do heavy DPS and use all mana and then feign death again for aggro management...
Also for skill template we assign 2 hunter who participate 99% of raids to go 5/31/15 and other 3-4 hunter go 21/30. The role of 5/31/15 usually is not for top DPS spot, but more support. These members use Goblin cable XL (i am one of them) and provide trueshot aura. High DPS we limit ourselves because we usually have less HP because not too many point in survival. Also if puller of raid then best is 5/31/15 because max hunters mark is useful even though difference is often negligible.
Now if you go battleground very much then best is 21/30 because of versatility u can use in raid and group PvP. If you solo pvp and pve very much, best result can be BM/MM (31/20). It very dependant on situation and play style.
I know very cookie cutter (?), but maximizing DPS, benefit to party, and surviveability (deflection, survivalist) is only options to take if part of a good raiding guild.