Passing comment: I've seen that page before, and there's a distinct lack of information there about *ranged* hit rating. My main hunter has always preferred daggers as her melee weapon of choice (although my new hunter is using a really nice 2H katana) and I struggled to get anywhere near the hit rating needed to overcome the dual wield penalty (885 at lvl 80!).
It's not clear from that page whether the dual-wield penalty affects the miss chance of our normal ranged auto-shots, and although I'm almost certain in my own mind that it only affects melee, I've never actually tested it. *makes mental note to try it out this evening on a test dummy in the buff*
Dual Wield penalty only affects your melee auto-attacks, ranged attacks for the purposes of calculating hit count as wielding a single melee weapon.
Ack, curse my bad math and lack of sleep. Yes 130 for Draenei. Thanks, Indo.
My avatar is from a film called Near Dark. Best vampire flick ever made, imo. Google it, rent it, but it. Now! 
Okay, so I answered my own question last night. I've been not leveling or questing or anything for a while now waiting on a friend to catch up, but I want Brewmaster so I started questing last night in Northrend...love that place, so pretty, and I've always heard about how the greens you get from questing were better than the blue's you got in BC. I always chuckled and thought, I'm sure there a bit better but just thought folks were exagerating...nope.
Literally the first quest I did, easiest quest ever, I went and talked to a guy...that's it, talked to this chap and went back to the quest giver and walked off with a much better bow than the blue one I had...*sigh, oh well, after a few quests last night I upgraded a good portion of my gear...
That's how it goes, the curve isn't as severe as Pre-BC to BC, but anything less than epic gear, and mainly the high end stuff at that, will be replaced in short order, Cata is going to basically toss all of our current gear in the trash can.
lol Drach, it was like that for me when LK came out. It was fun though, rediscovering new things through quest rewards. I kind of liked it. 😀