So, I just squeezed in an extraordinarily disheartening test on the PTR, using a
Brunnhildar Bow and a
Dalaran Rifle. With the same gear/talent setup between the two, using the Rifle, my steady averaged ~1000 and my arcane averaged ~1600 damage. Using the Bow, steady averaged at ~700 damage, and arcane averaged ~1000 damage. With the only difference being a 1.5 speed vs. a 3.0 speed, it's extremely conclusive that there is NO normalization on the weapon damage portion of either of these shots! We're back to WoW 1.0 mechanics of the slowest possible weapon being the best choice, with all other stats comparatively worthless.
This is once again the *best* hunter weapon in the game.

I honestly cannot believe Blizzard would make such a glaring oversight as this.