If the question is between a Bard and a Paladin, Bard all the way, preferrably the Monte Cook Alt. Bard. Here is why:
Use magic device - you can use any magic item, divine or arcane. wands, staves, rods, scrolls, wonderous items, armor, weapons, whatever.
All the charisma-based skills (Paladin is missing almost all of them as class-skills, and doesn't have the skill points to pump them up anyway, particularly not as cross-class skills. Besides, that alignment and oath might mess with some uses of Bluff).
Healing (far better than Paladin for the spells known, and again can Use Magic Device on any kind of healing wand or scroll, whereas Paladin is limited to the 3 spells on his spell list).
Combat: Paladin is better in Melee probably, but Bard is better at ranged attacks, particularly with their spells.
Buffs: Bard wins hands down, some of the best buffs in the game.
Scouting: Hide, Move Silently, Listen, Invisibility Spell, Silence Spell, Fly spell (or equivelant), Disguise, Gather Information, Bluff, Diplomacy, Sense Motive, Bardic Knowledge - Bards are GREAT at scouting and gathering intel!