Honestly, I think my biggest problem with the Bard is the name.  If they had called it  "Adventurer" or even "Scoundrel," I'd probably have a higher opinion of them.  But instead they called it "bard," so now there's always a dumb lute hanging around, pasted over an otherwise cohesive character concept like a piece of Microsoft Word clipart.
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"Sure, I'm in combat and armed with a sword, but 
look at my lute, isn't it 
awesome?!  I bet you thought I was a rogue but no, I have a 
lute and that means I'm a 
bard!" 
Pbbth.