I like the jack-of-all-trades nature. Being able to dabble in different things, and having a character whose play style can change to fit my mood is great. I like bardic knowledge, both because it can be kinda fun to roleplay stories and oddball lore, but also because it can be a useful way for a DM to slip in the occasional clue or hint without bending reality. I like that they get some abilities that are unique to the class. I like the two good saves, and have no problem with the BAB, Hit points, skill points, or skill lists.
There are some mechanical implementations in 3.5 that I don't like, though. They shouldn't be spontaneous casters -- if their magical knowledge is acquired through their travels and not inborn, it should be wizard-like in function. I am constantly annoyed that they are the only class that basically has to sacrifice a skill point every level to take advantage of a class feature. I wish the bardic music and spell casting abilities were more intertwined; as it is they are two seperate functions that don't complement each other well. I'd also like to see a couple bonus feats thrown their way, so they could beef up a little in one area, such as grabbing a couple of metamagic feats to boost spellcasting. As is, their limited feat and spell slots leads to a degree of same-ness that is the opposite of what the class should be.