As far as "Maximum bow range" is concerned, I would say that it is as far a you can reliably hit your target. It's not like arrows lose momentum like a bullet.
huh?
I don't want to get off in the weeds with KE/Momentum BS. The fact is that, unlike a bullet, an arrow retains most of it's "umph" for the duration of it's flight, unless you shoot it above 45*.