I saw a speargun fired in a tank in a slow motion video, but I can't find the video. The shaft did behave like one of those arrows bending like hell, except on a vertical plane. The muzzle of the gun would kick up about 6" by the time the shaft was half way out creating an amazing bend in the shaft. The shaft would then continue and slide over top of the kicked up muzzle, amazingly returning to its original plane. Having once before seen a slow motion video of an arrow being shot also behaving in a similar manner, I thought this will always be the case. However watch this series of different arrows being shot, some of them bend a lot and others very little, so I think it does depend on the bow or speargun.
http://www.youtube.com/watch?v=ZI_17jgEdAI
http://www.youtube.com/watch?v=xfVonIjirG8
And a speargun although not in very detailed slow motion.