Luzur
Good Sir
Well, you can start taking on small groups of bandits pretty much right away if you're careful and have good plan/preparation (meaning "don't get shot", "don't get gangbanged" and "still have stamina to work with after dispatching consecutive bandits").
Depending on build you may also be able to take on stuff like Draugr, Spiders, even low level wizards if you can snipe them before they get their magical shields up and blow your dick off with a fireball.
Then you get perks with each level.
:D
Though Volly is best as special purpose weapon - something you use when you really need to smash something hard or keep a horde of powerful enemies from raping your face. Against most enemies a weaker but faster 2h weapon works better, especially if it's something that doesn't discharge as rapidly.
Whatever i do in this game, it seems i always end up with Volly, Wuuthrand and that wooden priest mask.