Yes, I've fired a bow before and I've fired this bow before to to the very same job. Then I loaned it to someone only to get it back a few years later minus one bowstring.
I've thought of a few methods of getting the line up there other than the bow...
1) Slingshot. Accurate and inconspicuous but not enough power and accuracy when dragging a line. Only good for raising antenna onto lower branches resulting in poor height and communications.
2) Climbing the tree... Not an option for me right now. Perhaps when I was 18 but not today.
3) Professional tree climber/surgeon... A possibility but expensive. (*)
4) RC Helicopter ... too risky in an accident... loss of control, etc. small property with lots of adjacent yards. Too much at stake.. Can't take the chance.
5) Fishing pole ... difficult to get a good angle and put the line where I want it. Line ends up on adjacent property, snagged in neighbors trees, roofs, etc.
6) Manually throwing a weighted line... Possible but I have never tried before. Doubt I will have the required accuracy.
That leaves bow and arrow. Accurate, can easily be aimed where I want it, minimal interference with neighbors, quiet, adequate power. Plus I have done it before using blunt arrows and it does work. Drawbacks are as you mentioned but I am willing to take the risks.