Hi,
i'm an archer and also a spearfisher. There's a spearfishing club near my place that do target practice once a week in winter because the water visibility and temperature gets too low. Info is here
http://rennes.webcity.fr/article.asp?id=10566 with pictures. Basically, for those not fluent in french, they shoot at a target at 10' in 8-10' of water. They do that in pool and old excavation hole. They also say that shooting at a target at the same range with no current in the same position all the time is not like hunting. So you dont become a good hunter by shooting at target. The important thing with a bow is not for it to shoot straigth, it must shoot constantly the same way. So to be a good shooter, forget about the bulleye. Aim at the center of your target and shoot. Do that as many times as necessary to always hit the same spot. After that, you'll only have to compensate for the deviation, the drop etc to hit your mark.
Good hunting