I find missiles vital in attack as well as defence. Though the enemy seldom really has a strong position, using missiles and cavalry can be used to force the enemy to react and lose some of his footing. Arbalests in attack are of course a boon, as the enemy has to either attack or take considerable losses before it is engaged.
After the main line engages the enemy, missiles can also be used to lower the enemy morale by running them around and letting them shoot the enemy's rear and even charge if they're of the stronger kind. It all depends on the tactics and how well the enemy reacts.
Against Horse Archers foot missiles are always a boon - both in attack and defence.
No, you don't need archers - I was happy using only mounted sergeants and Italian Infantry in one of my first campaigns... 8 dismounted and 8 mounted Chivalric Knights will be able to beat almost anything of course as well. I find Archers bring great flexibility to any army, though.
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