I love throwing weapons. They have several nice advantages over bows and crossbows:
1) You can throw a whole lot of things in a short period of time. The refire rate is definitely faster than with a bow and MUCH, much faster than with a crossbow.
2) The damage gets extremely high as you increase your strength, throwing skill, and power throw. I've broken 300 damage when using throwing axes. You can't even approach that with crossbows or bows.
3) Usable with a shield! You can block an archer's arrow with your shield and immediately retaliate by planting a javelin in his eyesocket.
4) Easy to use from horseback.
5) Only ranged weapon that you can use with one weapon slot only. For bows and crossbows, you have to take up at least two weapon slots (one for the bow and one for the arrows). My personal favorite loadout is a one handed weapon, a two handed weapon, a shield, and a stack of throwing daggers.
6) Don't need to wait for the crosshair to shrink: See enemy. Throw axe. Watch enemy suffer.
7) Satisfaction. There's nothing better than charging into battle on a horse and planting an axe / javelin in the forehead of some poor soldier.

Does not become more inaccurate the longer you hold back your mouse button down, unlike with bows.