Very true. Bullets also travel in a parabolic arc. The difference is higher velocity generally means a parabolic arc that approaches a "straight line" for a given target distance.
Greater distance can be achieved (to a a point) by increasing the angle of fire and increasing the parabolic arc. Anyone that has played artillery games like Scorched Earth would be familiar with this. I believe this is what fodder was thinking about. On the battlefield bows would fire volleys in high arcs to increase their range, at the cost of not being able to accurately aim at single targets. I am reasonably sure that crossbows would do the same. As the selected target moves closer obviously the angle of fire would be reduced to compensate.
To get maximum range, one needs to fire at 45 degree angle. Interesting thing is whether the body is projected at x degree or (90-x) degree, it would strike the ground at the same place.
