Temujin: I interpreted it as yelling or screaming, as most people usually do with caps. Bold and Italics are usually better for making things stand out, but I don't want to start an argument over something stupid like that.
Historically you are correct, people did use mercenaries, but let us look at game balance. Mercenaries are very expensive, as you put it. It's pretty stupid that Swadians and Vaegirs should be able to rely on a more balanced, superior for that they can get at 10 Dens. a recruit at any of their fiefs while Nords, Khergits, and Rhodoks have to rely on expensive Mercenaries to fill the gap that their own military fails to fulfill. Historical accuracy is important, don't misunderstand me there, but game balance is too. Unfortunately what is historically accurate doesn't always lead to a balanced and/or fun game.
Naridill: I agree with you. Ullr does look really gay in that picture. Odin would kick his ass any day of the week, but more so on Wednesday.
My Norse history isn't as sharp as I'd like it to be, but I do follow it quite a bit. I do know from reading that Spears were the most common among Norse weapons and I do know that Swords were a significant sign of wealth and nobility. All I have read about bows and archery among the Norse, aside from what you just posted, is that they were rarely used among the Huscarls, and the only ones that did use bows were the fyrds, levied peasants. Also just because archery was an activity that they mastered doesn't necessarily mean that they felt there was glory in it.
Look at the Greeks, Odysseus is known for being able to string a bow, but if you read the Iliad they often frown upon it. When ever they describe an archer it always would follow with a comparison to them hiding and ducking for cover and other cowardice connotations.
I can't really speak as much from the Norse side as you could because you have obviously read more of the Sagas and Edda than I have, but aside from Ullr I've never heard of another character in Norse Mythology that was known for his archery skills in combat more so than his Axe/Sword.