The composite bow is also quite good, although the range is shorter. It's the fastest bow, I believe, and the damage out-does most other bows.
For upgrades, if you are going heavy DEX, you could consider going with the standard scaling route, but most people get chaos bows and use fire arrows. Less used is enchanted (if you have high INT) with moonlight arrows. You'd also want to use moonlight
arrows with the Darkmoon Bow if you go with that.