But to get to the point:
First the strength values:
Only combat promotians are applied to the attacker, so the praetorian is 8 * (1+0.10) = 8.8 strength.
The various bonuses against the defender reduce the defenders strength:
Total bonus versus the longbowman: 0.03+0.25+0.25-0.75-0.25=-0.47. This means that the longbowman has strength 6/ (1 + 0.47) = 4.08 (rounded down). If the bonus was positive, then strength would have been multiplied by 1 + bonus like with the praetorian above.
Now how can a 2 to 1 strength advantage lead to a 100:1 chance of victory (99.1%)?
The main reason is that combat takes place in multiple rounds and each round the stronger unit does more damage and has a bigger chance to actually do damage. The chance that the weak unit wins enough rounds to kill the strong unit is small because it needs a lot of hits to do enough damage and the chance that it scores a hit is not that big.
Now the details (similar to Gyathaar):
All formulas that are used come from the article of Arathorn which you've already read.
The longbowman does 20 * (3*4.08 + 8.8)/(3*8.8 + 4.08) = 13 damage per succesful hit.
The praetorian does 20 * (3*8.8 + 4.08)/(3*4.08 + 8.8) = 28 damage per succesful hit.
The longbowman has a chance of 4.08/(8.8 + 4.08) = 31.68% to score a hit.
The praetorian has a chance of 8.8/(8.8 + 4.08) = 68.32% to score a hit.
A unit has 100 hitpoints to start with. If the damage exceeds 100, then it dies. So the praetorian needs 4 hits to kill the longbowman with 68.32% chance per hit and the longbowman needs 8 hits to kill the praetorian with 31.68% chance per hit.
The praetorian could win by hitting the longbowman 4 times in a row with chance: (0.6832)^4 = 0.2179
The praetorian could win by hitting the longbowman 4 times while getting hit once before the fourth hit. That means that one of the four first rounds is won by the longbowman and 3 by the praetorian. That can happen in 4 different ways (lppp, plpp, pplp, pppl).
chance: (0.6832)^4 * 0.3168 * 4 = 0.2761
The praetorian could win by hitting the longbowman 4 times while getting hit twice before the fourth hit. That means that 2 of the first 5 rounds are won by the longbowman and 3 by the praetorian which can happen in 10 different ways. chance: (0.6832)^4 * 0.3168^2 * 10 = 0.2187
The praetorian could win by hitting the longbowman 4 times while getting hit 3 times before the fourth hit. chance: 0.1385
The praetorian could win by hitting the longbowman 4 times while getting hit 4 times before the fourth hit. chance: 0.0768
The praetorian could win by hitting the longbowman 4 times while getting hit 5 times before the fourth hit. chance: 0.0389
The praetorian could win by hitting the longbowman 4 times while getting hit 6 times before the fourth hit. chance: 0.0185
The praetorian could win by hitting the longbowman 4 times while getting hit 7 times before the fourth hit. chance: 0.0084
Sum it all together and you get 0.9938 or 99.38% chance.
I think the small error between 99.38% and 99.1% has to do with some rounding errors.
You can find a calculator for civ4 combat
here (for some reason, it loads slowly).
Fill in the strength values of this combat and you will recognize some of the numbers in this post in the outcome of the calculator.
If you include units with first strikes and chances of first strikes, then the calculations become a bit more complicated but essentially the same.
edit: After Gyathaar's comment, I decided to edit the post.
At a chance of 0.3168, the longbowman gets a first strike and then the praetorian can only sustain 6 further hits without dying. So if the first strike hits, the chance the praetorian wins is only 0.9938-0.0084= 0.9854. If the longbowman doesn't hit with the first strike (chance 0.6832), then the praetorian wins with the chance of 0.9938.
So, the chance for the praetorian to win becomes: 0.3168 * 0.9854 + 0.6832 * 0.9938 = 0.9911 or 99.1%