There's a good chance that the lack of weapon damage normalization is intended, as all melee classes function that way.
If I understand it correctly, previously shot damage was based on weapon dps and now its based on weapon damage? As long as attack power is normalized, this isn't necessarily a bad change, it just means hunters will favor slower weapons like pretty much every other physical damage class/spec does currently, with rogues being slightly oddball because of poisons and dual wield and wanting fast offhands for dp and the like.
Proper itemization prevents hunters from having the option of using an extremely slow blue wep vs a faster epic, just don't put really slow blues in the game.
Only this is not the case.
Apart from enh shamans (although I don't know how that changed after WotLK) all melee dps have their weapon normalized.
And it SHOULD be, because an instant special is totally independent on weapon speed. Faster weapons can't use instants more often than slower weapons.
The reason most classes still prefer that slower weapons is simply because of the average weapon damage.
Saying that shot damage shifted from weapon dps to weapon damage is a bit of mistake. The only thing that changed is that people simplified the formula, so it seems there is something different when there is not.
Basically the formula is as follow for normalized damage (normalized speed is 2.8):
Shot Damage = Weapon Damage + ( AP / 14 * 2.8 ) + ( AP * ShotAPModifier ) + Static Shot bonus
Now Weapon damage is a range, which is the main reason you see differences between individual shots; so for convenience sake we often go for average weapon damage. There are 2 ways to obtain this:
1. Average Weapon Damage = ( Min Damage + Max Damage ) / 2
2. Average Weapon Damage = Weapon DPS * Weapon Speed
Take number 2 and substitute that into the formula and you get:
Shot Damage = (Weapon DPS * Weapon Speed) + ( AP / 14 * 2.8 ) + ( AP * ShotAPModifier ) + Static Shot bonus
That's the normalized formula. Take the unnormalized formula and you get:
Shot Damage = (Weapon DPS * Weapon Speed) + ( AP / 14 * Weapon Speed ) + ( AP * ShotAPModifier ) + Static Shot bonus
Now you can simplify that (due to underlined common multipliers) to this:
Shot Damage = (Weapon DPS + (AP / 14)) * Weapon Speed + ( AP * ShotAPModifier ) + Static Shot bonus
In the end though you're still talking about a shot consisting of a summation of 4 factors:
1) Average Weapon Damage
2) General AP contribution
3) Shot dependent AP contribution
4) Static Shot bonus
Now 1 is part of the reason why even with normalized numbers people still prefer slower weapons for instants. Because that number will always be higher.
Nr 2 should ideally be normalized to make sure that the damage is consistent for all hunters. The only exceptions are when the actual ability can be increased or decreased depending on speed. Like auto attack (faster weapons attack more often); on next hit abilities (like the old heroic strike); speed dependent procs (like the old windfury; where faster procced more often but hit for less).
Keeping this normalized always gives you 20% of your RAP as bonus damage; getting this unnormalized however causes huge disparities.
For example the difference between a 2.8 weapon and a 3.0 weapon with 14000 RAP is 200 damage. That might not seem like much but that's an 7,14% increase from AP contribution just because you picked a slower weapon.
A disparity like that might cause a seemingly inferior slow weapon to outclass a superior fast weapon.
Number 3 is of course shot dependent; as is 4