If used in the right situations it's a perfect weapon. Mid range maps are great with it. I only really started loving it yesterday oddly enough though I'd always found it fun and quirky.
Yesterday though on the custom tug of war cart style map (cant remember the name of it, it just got a great update) I joined the server, decided why not, grabbed the huntsman, ran out and killed 6 of the 8 players on the other side in the space of less then a minute. After that I was hooked. It just needs some practice but yes I do believe the headshot hitbox is more lenient for it then the sniper rifle. Saw an arrow clearly miss by several inches and I still got the headshot though that could have been lag either.