The cool down on rapid shot is now a fixed time so no matter what lvl rapid shot is u have the same time to wait from castig the skill to recasting the skill. Each point u invest in the skill now increases the time of the skill but doesnt increase the time from casting to recasting. So at lvl 1 u cast rapid shot the cool down is roughly 45secs till ucan reuse the skill during that 45 secs 8 of which ur hastes now if u increase the skill lvl that 8 secs goes up but it never goes over 45 secs otherwise u would have haste for 100% of the time.
Thank you for the good information, Yilley.
So basically, if you want to use Rapid Shot in concert with all of your other skills, you need to do the math on recharge times and use an Alt book to move skill points around to balance the 45sec timer. Overall, this will reduce the effectiveness of a Ranger that used other skills such as Sharp Shot and Barbed Shot together because the number of skill points is limited.
On previous ranger builds, I had set things up for a round robin barrage:
Bolas -> Barbed -> Sharp -> Rapid -> Sharp -> Bolas -> (etc.)
Rapid Shot was tuned to fill the space and reset close to time to hit it again. The math probably will not work out that way with the fixed recharge time. At the very least, many more points will need to go into Rapid Shot and will take away from other skills making them less effective or possibly unusable.
This might be a lesson to those who asked OTM to change this. Be careful what you ask for...