I definately noticed the improved damage last night, but It's really too bad that ammo/weapon damage don't play into a good portion of our abilities (Serpent sting, arcane shot, explosive shot, black arrow, pet damage, fire traps). The abilities that ammo/weapon damage applies to are autoshot, steady shot, multi-shot, aimed shot, chimera shot, and killshot. This works out that roughly 55-60% of hunter damage is not based on weapon/ammo damage, and partially leads to the fact that for a hunter in wrath that upgrading their melee weapon(s) yields a larger DPS boost than upgrading thier ranged weapon.
With this recent boosting damage of ilvl 226 and higher ranged weapons now makes them more desirable to upgrade, and is definately an easier way for blizzard to scale hunters with respect to other physical DPS classes. Unfortunately this could have the side effect depending on how far blizzzard carries this in the future of putting us in the same situation that warriors are in, in that hunters will scale mainly dependant on our weapons damage, although that is probably an improvement of pre 3.0.3 (or whenever they nerfed pets/steadyshot) where our DPS was too pet heavy, and reliant on 1 shot. It'll be interesting to see what blizzard finally decides to do with ammo, and whether they follow through on some of the hunter communities speculation on how blizzard should change pet scaling (i.e. pet gets no buffs directly, but inherits more stats from its master, like ar-pen, haste, crit, etc. which would make ar-pen and haste benefit us more similarily to warriors and rogues).
I wish blizzard would also look at having haste for hunters affect our global cooldowns like it does for casters. That alone would probably boost BM to MM/SV DPS levels, and bring hunters overall closer to where the other pure DPS classes currently are.