I was typing a response to Lienna and Kordwar and realized it was enough for a decent blog entry, so here it is!
@ Lienna - I have thought of using volley too, but when you do, your shot rotation stops and in my opinion you hurt your dps. Explosive shot allowed you to keep your shot rotation in full flow.
@ Kordwar (and Lienna really) - I agree that explosive shot breaking aoe can make it hard to use at times, but that is the beauty of being survival. If your group has to CC, then use arcane shot for that engagement.
Also, aoe tanking is stellar now compared to BC. Warriors, pallies and DK's are just amazing at aoe tanking (I don't see many bear tanks these days). I have not done a WotLK heroic yet, but I have not had to cc enough to see the splash of explosive shot being worth losing. Especially when we all know that a good smart hunter can cc away from the tank easily :)
I guess I am just disappointed to lose something I enjoyed so very much. Being THE aoe hunter build was just so appealing. For all I know, the Flame shot may hit hard enough to make it fun and still appealing. Im just still in the shock period right now. Really, it would be the same as the Retribution paladin's getting their Divine storm cut back to just hit a single target -or- a Druids Starfall being downgraded to a single target ability. Those would probably bother the moonkins and Ret pallies of the world.
I will probably get over it...I mean, what is more fun that 1500 agility, right?