Diablo® III

Does that modifier on the bow grant anything special beside the actual damage amount? Does holy damage have a bonus to certain enemies?

For that matter, does ice damage on your bow cause slow? What about arcane? Or are they currently just a pretty color and does not have actual elemental effects?

ice = slows enemies
holy = enemies that die explode and heal nearby allies
fire = enemies that die explode and hurt nearby enemies
lightning = your attacks are more likely to interrupt/stagger enemies
poison = lots of pretty colors?
arcane = lots of pretty colors?

ice affixes are inherently weaker than the other affixes to compensate for the utility the slow provides, same goes for lightning
raw damage affixes are the strongest to compensate for how they have no special effect

Hmm... interesting, so if 2 bows has the same DPS, certain elemental damage seems to be better than others.

poison adds a dot

It seems the effects only apply to critical hits, just pretty colors for normal hits.

http://www.diablowiki.net/Critical_hit#Types_of_damage_and_effects
Types of damage and effects

Critical hits are a major part of the game in Diablo III, dealing double damage with every type of damage, inflicting bonus effects, boosting and being boosted by a wide variety of skills, and triggering special (extra gruesome) death animations.

Physical Damage: Deals double damage. Might also knockback, but not confirmed.
Arcane Damage: Critical hits from arcane damage silence targets for 4 secs. (Silenced targets can not cast some spells, such as a Skeletal Summoner or Goatman Shaman resurrecting fallen minions.)
Cold Damage: Critical hits from cold damage freeze targets for 2 seconds.
Fire Damage: Critical hits from fire damage set targets ablaze, dealing additional damage per second.
Lightning Damage: Critical hits from lightning damage stun targets for 2 seconds.
Toxic Damage: Critical hits from toxic (poison) damage have an unknown bonus. Extra damage over time?

bump for interest.
Does that mean Physical affix deals more damage than others? Is this confirmed?