FWIW, I didn't mean to make it a moral argument. I'm just not personally interested in hunting and fishing, but I don't have an ethical problem with them if done in moderation. Nature is violent and ruthless... a well-aimed shot is one of the less miserable ways for a wild animal to die. And yes, they're absolutely outdoor activities :)
Like you said, it's at least better than factory farming, and in some cases, hunters are an important part of conservation efforts.
I happen to be vegan, but have also had a few friends who hunt & fish. I don't fault them for it, or hunters in general. It's just not something I would want to discuss with them or join them for. Not out of any ethical quandary, it's just not something I want to spend my time doing or thinking about (heh, they're just far less exciting when you can't eat what you catch).