Elerian, you can do pretty much anything you want.
The only problem to overcome is damage mitigation. You can do that either by using summons as meatshields, preventing the enemy from acting or reducing their AP allotment (maybe by forcing them to move around terrain hazards or teleporting them away from you), or making the enemy dead. I think it's quite difficult to find a setup in this game that won't work to be fair. The early levels are slightly more difficult than later ones, but if you use the tools at hand most of the fights are easily won.
Also, rangers have access (if you swap weapons) to 2 separate charm skills on long cooldown, and also charming arrows. Charm is by far and away the most powerful method of crowd control. If you were planning on having a party of just rangers however, I'd suggest scouring the vendors for special arrow components at every level.
As far as I'm aware (haven't got much further than that yet) you continue to find normal weapons and also start finding T weapons.
