Yeah, about 20 metres or so. Pretty much like cats.

RAW it's up to 2 miles at the ground level, up to 40 miles from elevation point or mountain, unless obscured by terrain features. So, goblin lookout at the bridge before their camp should be able to track us roughly from the Moonhaven.

Nobody implements distances to that degree of reality, of course. That would make the game as boring and ridiculous as Operation Flashpoint, for example. So, compressing distances is one of very few scenarios when TT doesn't translate to CRPG well (one of the very few I agree with, at least). Even Solasta compressed distances, I believe.

However, having no real difference between light crossbow and longbow (apart from their weight and class / race restrictions) is a crime.