I'm usually good up to about 15 mph as long as it's steady. My problem with high winds, especially gusty winds, is that we usually get a back wind after each gust that goes in the opposite direction contaminating the entire area. I'm a firm believer you are never going to beat their nose so why ruin a good stand with a crappy wind.
I'm with you on this. The wind is always more consistant outside of the big woods and thick cover, but bowhunting in open areas on a windy day is pretty low on my list of things I like to do. If I just HAVE to hunt a windy day, a ground blind in thick, low cover, is my preferred method. 30' up a pine tree works okay too, but is not very comfortable.
As far as shooting itself is concerned, the wind definately pushes an arrow, not just left and right, but up and down. Fast arrows with small fletch seem to drift pretty consistently, but slow arrows with feathers will go sideways on you and the last thing you want is to hit an animal with an arrow that is not going straight.