My Crit chance is lower on my Bow bar so I made it Precise for that little extra. Though everyone lately has been singing praises for the Sharpened trait.
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Coined by Maxwell
Precise is best when running 12-man Trials with lots of armor debuffs on boss (Night Mothers Gaze, Alkosh, Sunderflame, Major + Minor Fracture, Crusher Enchant, etc.). In solo PvE, 4-man PvE, and PvP, Sharpened is best. Nirnhoned is generally not competitive. It is a flat damage increase of about 147 weapon damage on a legendary CP160 bow. Crit and armor reduction are percentage-based damage increases. The better your gear and build, the more benefit you will get from crit and armor reduction. You can also compare to set bonuses:
Standard crit bonus on a set = 688 critical (about 3.14% crit at CP160)
Crit bonus from Precise trait on a bow = 7% crit
Trait = 2.23x better than a set bonus
Standard penetration bonus on a set = 1935
Penetration bonus from Sharpened trait on a bow = 5160
Trait = 2.66x better than a set bonus
Standard weapon damage bonus on a set = 129
Weapon damage bonus from Nirnhoned Trait on a bow = 147
Trait = 1.14x better than a set bonus