Using a giant-kin bow as a firbolg
To answer in order
- It's as big of a bow as you'll find
- You've got the stats
- +50% range for the giant-kin long bow.
- As with other bows/arrows, if you find magical arrows they'll each have the features of that kind of magical arrow.
But firbolgs start out as melee fighters, not bow fighters
Granted, you can work through the details with your DM and find solutions, but:
"The entries for weapon and nonweapon proficiencies list each humanoid race's initial selections. Unless the DM approves another proficiency, or a special kit is taken, PCs of a particular humanoid race must select their initial proficiencies from their lists." (p. 16, Complete Book of Humanoids)
Initially, as a Firbolg, you won't begin the adventure as proficient with a bow. Your can ask your DM to approve the bow proficiency, or, you may need to wait a few levels to add proficiency with that bow to your PC's list of proficient weapons. That will be governed by whatever class you end up playing.
Firbolg's initial weapons proficiencies are with: club, halberd, 2H sword {they wield human sized two-handed swords one-handed}, giantkin halberd, giantkin 2H sword (Source: Complete Guide to Humanoids (this is consistent with the MM entry))
If you want to begin with proficiency with the bow, you may want to choose the voadkyn rather than the firbolg for your starting PC race. Up to you.
Once proficient, you will be able to fire 2 arrows per round with basic proficiency, both of which get your strength damage: so each one is 1d8 + 7 on a hit. I am not sure how you arrived at that strength score (20/94%) during character generation: I'll leave it to you and your DM to figure out if the damage bonus is greater than a +7. (The +7 is based on a strength of 19). If the 20/94% damage bonus is higher than +7, then sub in that bonus for the +7 above.
As with most things in AD&D: work with your DM. You may end up having to accept a non-proficiency penalty for each attack roll until you can earn a proficiency slot for that bow. Or, you can (hopefully) talk your DM into letting you begin as proficient with that weapon.
(Thanks to @Glazius for assistance in preparing this answer)