What's the difference between bows and crossbows other than the basic stats displayed? Do xbows have quicker recovery time but shorter range? Or vice versa? Or no difference?

Speed vs Damage if I remember correctly,.
But magical enhancement tends to be the most important consideration.

Damage is virtually the same within the same tier - 4d2 +7 crossbow vs 5d2 + 6 bow. You get an average of .5 more damage with the crossbow and +1 to hit with the bow, that's it. So I'm wondering what the hidden properties are.

So it would be accuracy vs damage. Not speed vs damage.

+.5/+1 doesn't seem to be that big a thing. I seem to remember seeing a tutorial message or something say about a power vs range tradeoff.

I never noticed any of my players have longer range. But I was never really looking for it either.
Sorry.

I don't think there is any hidden difference. Use whichever one is displaying better (stats plus enchantment) for you.

Grayface's site, probably the most authoritative site on game mechanics which the author got from analyzing the game engine, has no separate entries for the two weapons; just "bows". I think Bookwyrm is right.

https://sites.google.com/site/sergroj/mm/mechanics

Ok, thanks!