I honestly don't know what point removing Eyes of the Beast in patch 4.0.1 served. Hopefully, it will be brought back. The entire point of WoW is to play in a large open ended world with much to do and see, and EotB only added to that as frill. There really wasn't a need to nerf this. I'm optimistic Blizzard will realize the error of their ways, perhaps Hunter's can look forward to seeing this ability come back soon in an upcoming patch of some sort. :)
I think Blizz is struggling to make the game challenging and easy at the same time. This could probably be too misleading to some players, who would follow the pet thinking it's going back to its' master... only to find a N.E. far away breaking Shadowmeld as he fires Aimed Shot..