Steve has it right.
Flight world records shot in the U.S. in the 1930's reached just shy of 490 yards, with wood bows shot without overdraws, releases or synthetics anywhere in the setup. Linen strings, full-length douglas fir shafts etc. Recent primitive flight shooters and bowyers have advanced various explanations for the reason they can't get there, ranging from "they made bows that didn't last" or "they changed the rules", but these don't hold water.
Top flight shooters of the pre-WWII era built flight arrows by the hundreds and shot and tuned them constantly. Shooting technique was also worked on, incessantly. Having built and tested 100 top-notch flight arrows, there always was the one arrow that shot farther than any other. This was the arrow to go for a record with. Plenty of evidence with our present efforts on how changing just the arrow for a better one can instantly give 50 yards or more of range, and make an old workhorse bow shoot 300 yards.
One factor in favor of the old times was that wooden bows and arrows were all there was, then. Every champion archer and crafty wannabe used wood. Nowadays wood-based archery is a quaint niche compared to the fiberglass and compound dominant archery culture and the talent pool is similarly divided.
Tuukka