I see actually two uses for a hunter.
The hunter is best for, erm, hunting. He is actually even quite good for an early suicide attack against a bsb or a mage. Although maneaters could do the job as well, the success rate of the hunter is much higher, because he has magic items at his disposal. An excellent anti-level 4 build is greedy fist, potion of initiative, and the 5pt sword that renders the mage stupid if hit. A more general build would probably contain the others trickstars shard and the sword of swift slaying. The latter has great synergy with a group of sniping/poison maneaters to pick out the unit champ before and, if needed, to finish the job. They are, however, by no means necessary.
The second use for a hunter is as space denial. Find a strategically well located forest and park him there. Alone, he is stubborn in the forest and will not be removed by anything at least twice or three times his point cost. Use him to prevent flank charges on ironblasters, threaten yourself flank charges, lone characters, and fleeing units, or just to stand in the way and shoot. Keep him as cheap as possible - a magic shield, charmed or enchanted - is the most I'd give him.
In either case, I'd place him with a single tusk. Vanguard will get you in position; for the character hunter, swiftstride makes sure you'll hit home. For the woodsman, part the unit right away.