I made a crude hack to the spreadsheet to evaluate the dps of BM and MM hunters in spreadsheet version 80 at different points in item progression. The assumption is that the item stats increase linearly with item level.
The evaluation is at full raid buffs with a cat as pet.
This is the BM hunter (total dps blue, pet dps red):

The MM hunter (total dps blue, pet dps red):
The x axis in both cases is the percent of item stats from gear below (negative) or above (positive) a 10 man geared hunter.
Only gun/quiver/ammo is not changed (as that was not quite that easy to hack in for the gun).