Well, I have completed my first raid day on my hunter. From memory my DPS wasn't all that different from before. I was very surprised, particularly on Blood Queen, where I finished on 14.5k DPS (7th overall) WITHOUT having been bitten. So hunter DPS (at least mine) seems to be competitive still. The only other fight I participated in was Blood Council and I finished 3rd with 11.8k DPS.
At this point in time I don't worry about my DPS on trash, as it is useless, but on Boss fights I think hunters are still pretty good. My rotation generally goes something like Serpent Sting, Chimera Shot, Arcane Shot, 2x Steady Shot, 2x Arcane Shot, 2x Steady Shot, Chimera Shot, Arcane Shot, etc. etc. and firing off Aimed Shot whenever it procs. I once again have Rapid Fire, Readiness and Call of the Wild macroed together which I generally pop after my first 3 shots, and then whenever the cooldown is up and effects have worn off.
One thing I was discussing with my fellow hunters during raid is, that we find ourselves bar-watching far too much, keeping an eye on cooldowns and procs. I will definitely have to look at getting PowerAuras set up and possibly Ghost:Pulse or something similar to keep an eye on when Shots come off cooldown.
Overall I found it enjoyable to raid as a marksman hunter and not all too different from how it was. I love the fact I don't have to worry about my mana anymore, and the fact I can effectively raid with whatever pet I want (Razor, my purple Winterspring Frostsaber is finally number 1 again).
Please let me know how your raids have gone and as always keep on hunting,