The question is what are you planning to do with your spec? Are you raiding? Are you strictly pvping? What is your goal with your hunter? And yes your spec could use a lot of tweaking.
For raiding wise, you can go with the basic Cookie Cutter DPS Build:
5/20/36 Your agility is a bit low to be perfectly honest, but it also looks like you don't have any Kara gear, just PVP and 5-man Instance gear. Which is great starting out, but yea you do need some upgrades. SV is also more about utility with sustained DPS more so than raw DPS. If you want to top the charts I'd suggest a BM build.
As far as a bow goes, I might suggest you start running heroics and saving up your badges for the badge bow. It will definitely last you a while, and adds some much needed +Hit early on, so perhaps you won't have to invest into Surefooted as much.
If you do a lot of trapping in instances you may want to consider a slightly different build, as mentioned in my guide. I offer 2 different types of trapping builds, one for the pure trapping, and one that'll work quite well for just normal instance grinding.
PVP I wouldn't suggest SV builds mostly due to the fact that the damage of an SV is mostly based on their agility. Which a lot of our PvP gear lacks. Not to mention, Silencing Shot works far better then Wyvern Sting, since Wyvern Sting is so easy to get out of. Granted I've pvp'd with SV specs, and I love it, but typically speaking, most people opt for Marksman builds. I'm a hardcore SV though, so I'll stick with SV even in pvp settings =P
I'd highly recommend you check out the sticky, or my own personal guide in my signature (which I'm working on a huge update for, so expect to see another guide come out soonish). Once you figure out what you want to do with this build, make another post and let us know.