I used to shoot competitively until I really screwed up my shoulders and the tendon alignment in my left arm. But I still pick up my Olympic recurve from time to time and get some shooting in. Because it's hella therapeutic.
I do miss the camaraderie with my teammates and the hijinx we'd get up to after weekend tournaments. Plus being paid to travel to competitions was also pretty cool too.
Compound bows aren't actually allowed in Olympic competition, largely due to the way the Olympics are run; basically FITA/World Archery would have to withdraw from the Olympic organization and then reapply with compound bows included and then have to sway officials into seeing it as something of value to the games- unfortunately, archery isn't one of the bigger sports in the Olympics and from what I've been told, there's a huge possibility that archery wouldn't make it back into the Olympics because there are tons of other, more popular sports, trying to get into the organization.
So basically, unless archery gets a lot more popular, globally, compound bows will probably never see an Olympic debut.