I'm playing Bard in my current campaign, and I have to concur with the majority here. Vanilla Bard is glorious. Haste, inspire courage, and good hope with a ranger, his pet, a monk, a summoner, and a meelee cleric (my party) is fabulous.
I wouldn't give up bardic knowledge, versatile performance (got dance and comedy m'self) and suggestion for the world. Rest is secondary to me. Archer bard is fab, go rapid fire, your bonuses are more than enough to compensate for the -2.