Primary Skill: Hungering Arrow with Spray of Teeth Rune.
Hungering arrow is a need skill for Inferno. Most of the time you are running away so you must have this hungering arrow skill that homes in on the target while generating hatred. The spray of teeth rune is the highest DPS Hungering Arrow Rune in my opinion because it attacks multiple targets on a successful critical hit. This is also an AoE skill that will effect single targets such as bosses.
Secondary Skill: Sentry with Guardian Turret.
Sentry is an amazing skill that allows you to secure an area and also now does 175% weapon damage. Sentry is newly able to be used 2 times simultaneously and has a cooldown of only 8 seconds allowing you to have 2 sentry turrets up at any given time. Sentry is used in conjunction with all of your other skills as this skill set is built around it. Caltrops should be placed around the guardian shield area of the sentry and should be used offensively if enemies are far away and defensively if they are closing in on your position. While affected by smoke screen one should let the sentry do DPS while escaping. Shadow Power with Gloom should be used as a defensive skill while inside guardian shield to give the user a total of 50% damage reduction while being attacked by stray mobs. Sentry provides piece of mind while spamming hungering arrow from a distance. One may also use vault with sentry to vault in, place a sentry, then vault to safety. This tactic can be used to give a tank the defensive bonus in the front lines, while still doing damage by way of sentry DPS.
Defensive/Hunting Skills: Smoke Screen with lingering Fog Rune, Shadow Power with Gloom, Preparation with Invigoration Rune, Caltrops with Bait the Trap Rune, Vault with the Tumble Rune, and Marked for Death with Grim Reaper.
Smoke Screen vs Vault
Smoke Screen with lingering fog is one of those skills that is needed for surviveability as the Demon Hunter. Not only does Smoke Screen make you invulnerable it also makes you invisible to enemy units allowing you de-aggro them for a short time which in turn allows you to slip right by them or even run a whole screen away while they are figuring out where the heck you went. The .5 seconds attached to the rune closes the 1 second gab between smoke screen cooldown to .5 seconds which is still dangerous but not as bad as the full 1 second window of vulnerability that would be attached to smoke screen using any other skills. Smoke screen in this case would also break any immobilization such as stun or jailer.
Vault with Tumble is another option instead of smoke screen if you find yourself always having to retreat to a better position or find yourself without a good tank (A Templar with +100 vitality in all slots and a +300 vitality weapon will tank well) Vault now breaks jailer and other snares, so smoke screen is now no longer the only skill that can. Vault should be used primarily as a defensive skill but can even be used to vault in to drop a turret or two at the feet of your tank, or in the front lines.
Shadow Power with Gloom is the most popular defensive skills used by the Demon Hunter, and there is a good reason for that. Gloom is a go to defensive skill for the simple fact that it now lasts for 5 seconds instead of 3 and does 35% damage reduction on top of 15% life steal. This life steal allows you to DPS Reflects Damage targets with no second thought, and is very useful in most any stick situation. Remember that with Guardian Turret's bubble active you gain 50% damage reduction from all sources. Shadow Power with Gloom is an indispensable skill.
Preparation with the Invigoration Rune is also my favorite pick, for when you use prep you are usually in a situation where your must have discipline to use smoke screen, and that +10 Max discipline for the next 5 seconds is critical in your survival. Other runes such as Backup Plan (30% chance to have prep have no cooldown) and Focused Mind (45 disc over 15 seconds) are also viable options. Preparation is another skill that is vital to your survival in inferno.
Caltrops with Bait the Trap is one of those very interesting skills as it cam be used as an Offensive and Defensive skill as shown in my video. Caltrops can be used as a "Buffer Zone" that increases the critical hit damage of your Demon Hunter while inside your Guardian Turret creating a "Bunker". The way to use it defensively is using it as its base un-runed skill was intended as a movement inhibitor.
Mark of Death with the Grim Reaper Rune attached to it should be used for multiplayer situations. The Grim Reaper Rune is the best rune for multiplayer simply because it wastes the least of your Discipline and also stays attached to the target, subsequently buffing the attack of all of your party members as long as the target(s) are being effected by the mark itself or the AoE radius around the marked target. If one decides to use 2 Demon Hunters in a group, the Highest DPS Hunter should use Caltrops with Bait the Trap, and the lower DPS one should use Marked for Death with Grim Reaper Rune.
Passive Skills: Night Stalker, Sharpshooter, Archery, or Steady Aim.
I use Night Stalker in single player games as a defensive bolstering skill. As a Demon Hunter you will be critically hitting your enemies many times throughout a fight. These critical hits will have a chance (about 30-40%) to replenish your much needed surviveability resource, Discipline. Your Discipline is basically the only way you will be able to successfully kite and survive in the hellish Inferno difficulty.
In Multiplayer scenarios Sharp Shooter is a viable substitute for Night Stalker Using a good tank as a shield you can safely use Sharp Shooter to greatly increase your DPS in team fights. The reason I say Sharp Shooter is an Optional skill is because Archery and Steady Aim boost base DPS and do not require time to become more effective.
Archery is one of those Huge DPS boosting skill that is needed on a class such as the Demon Hunter. While using different weapons in the main hand, you are able to boost your DPS in different ways. I find that using a 2 handed crossbow is the way to go in Patch 1.0.3 for maximum DPS, However if your goal is to go for Surviveability, I suggest going with a 1 handed crossbow (900 dps or higher) with +8 - 10 Maximum Discipline attached to it.
Steady Aim is a HUGE dps boost bolstering your Damage by 20% as long as you are not face-tanking a mob. As a glass-cannon type class in Diablo 3 you naturally want to be away from any subsequent enemy mobs that are out to lob off that pretty little head of yours. You want to use this skill with any ranged DPS build as it is essential to your DPS being as high as it needs to be. 90 - 99% of the time the DPS boost coming from this skill should be up.
I'm just here to point out that damage mitigation is a multiply formula instead of addition. So 35% from Gloom and 15% from Guardian turret isn't 50%
Also, proc chance for Night Stalker is based on DH's skill proc co-efficiency, so hungering arrow crit has a 100% proc chance on Night Stalker, AoE skill like Elemental arrow - Ball Lightning has significantly lower proc chance due to the low proc co-efficiency.