I like the Arcane Bloodline with a few houserules my DM allows (he is so far corebook only, but would have allowed the advanced players guide since he allowed the playtest classes from it):
1) Eschew Materials also covers minor focus spell components.
2) The Sorcerer can learn the bard spells Silence and Zone of Silence as spells known.
3) The 6th level bloodline spell "True Seeing" can be replaced by the 4th level spell "Zone of Silence" as a 4th level spell.
I am playing a gnome "I don't do magic, I am magic" type. I only have illusion spells above 0th level except for some bloodline spells, and I only have spells that require no significant material components. I also am not taking Nightmare, since it is evil and she doesn't roll that way.
I am maxing out the skills Bluff, Disguise, Imtimidate, Perception, Sense Motive and Stealth. She worships Callistra but her arcane bond is a holy symbol of Desna, who she pretends to worship and pretends is granting her "dream magic" in front of those who fear arcane magic. She also has a great axe and pretends to be a warrior (she is not proficient in the weapon but has occasionally done a coup-de-gras). She is Trig the Thunderer, gnome barbarian/cleric! (Or so she says).
So far so good. My DM is going away and thus ends the game, alas, so I don't know what I would have done about Wish, which the bloodline grants and yet has a material component. Also, I think that without outside sources she would have to break one of her rules one way or another (a non-illusion spell, or one requiring a significant material component) but maybe the new book coming out would have more illusion spells.
