I have a few thoughts on this subject and the discussion it spawned.
First, I'm a little surprised no one has surmised that we might first see official Bards in the FR players' guide. Bards are a pretty big part of FR (Harpers, anyone?), and if we're getting a whole players' book for FR, I'd surmise that it would contain a couple of classes.
As for the discussion over how to balance classes, I'm all for the 4E approach. I think all classes should be useful and balanced in combat. My first 3E character was a Bard, and I've DM'd two Bard characters. Our shared experience of playing a Bard was that the class was fun "when we were Barding it up," but was pretty ass in a fight. Not one of these campaigns was what I would call combat heavy in the D&D sense, but all three of us felt that the Bard, even with his/her opportunities to mightily outshine the party in some social situations, was a marginalized class. When the Bard really got to "Bard it up," it was often at the expense of the rest of the party, and since these situations marginalized the rest of the party, the Bard didn't get to "Bard it up" a whole frikking lot. The other players would also want to be a part of the social encounters. This, combined with his/her combat ineffectualness led to the class feeling marginalized.
So, I'm all for a Bard with a distinct role in a fight. I'm of the opinion that D&D consists of two things: combat and "the other stuff." Combat is the one thing that happens most often in D&D and generally involves the entire party. "The other stuff," on the other hand, may happen more than combat because it constitutes anything outside of combat, but in a lot of instances isn't a situation that involves the entire party. Thus, while "the other stuff" might take up more of your session, it isn't necessarily a shared experience amongst all players. In addition, combat is really the only situation where the rules can really be balanced across the board; "the other stuff" can incorporate such a variety of actions that it often requires a level of DM fiat and adjudication to resolve.
Now, I should say that I come to the conclusions with a bias as far as gameplay is concerned. I feel that outside of combat, it is roleplaying, and when you enter combat, it becomes a game. That's not a hundred percent true, as I do want to roll dice outside of a fight, and I do want roleplaying to take place during a fight, but it's the easiest way to sum up how I look at D&D. If you feel differently, I don't consider that badwrongfun, but the reason why I'm so pro 4E right now is that the developers seem to consider my and my group's playstyle goodrightfun.