I'm of the camp that the 3.5 bard does not suck if played well. The 4E bard secondary role seems to be quite a big part of the bard now. Either way, I'm looking forward to playing one.
Yeah I had a high level 3.5 bard, he actually contributed quite a bit to the party. On the flip side he was probably the single most boring character to play (in combat at least) that I have ever had. Although he was a respectable fighter, in almost every case it was far more efficient for me to spend the round singing or casting a mass party buff like haste. As a result I could easily just give instructions on what I was going to do for the next 4 rounds and then go out and grab a bite to eat. Given that this was 3.5, those 4 rounds would usually last about an hour and then the fight would be over. It was unusual for me to have to make a combat decision.
At lower level though the bard was more fun. His buffs were weaker and less numerous and other people didn't overshadow him quite as much in combat and spellcasting. As a result you could more easily justify taking an action other then buffing the party.