This is a great topic and definitely one in my opinion with no clear cut answer.The small pro shop can't buy in the same volume as the huge retailers,so they can't compete with those type of stores and stay in business.Yet how much more should someone pay for a product because of a smaller business's financial circumstances?My opinion is that it is directly related to the amount of service that the product requires.The more service a product may require the more I am willing to pay the person who is going to be performing that service.I would never buy a bow from other than a small pro shop(unless I purchased it used,and even then I would try to have the three pro shops within my home area find it for me)A decent pro shop owner wont gouge their customers.I believe it was Doctor Death that suggested asking if that is their best price,I have no problem with that on a large ticket item.One pro shop I have done business with and I believed was charging way on the high side,If i needed some thing I would go in the shop with a page out an archery catalog(Keystone,Lancaster)or a printed page from an internet source.I would ask if he had the particular item or if he could order it for me,showing him the page and the pricing.His pricing on those items was always a lot better.When they know what you can buy it for elsewhere they tend to do a little better.
I would always purchase locally first.WHen your bow goes out of tune during hunting season and you have been a good customer to a local shop,I am pretty confident that they will get you up and running as a priority.To the big retailers it wouldn't matter.