A Halfling 1bard/2rogue/17wiz with the dragonmarks would be an extremely versatile toon. At the low levels, the no fail wand usage would be a great boon to the group, as would a feeble song if no other bard was around.
A while back I rolled a 1bard/xsorc. The armored caster portion carried over from bard to sorc spoells as well. This was NOT w.a.i. and may have been fixed since then, but if it hasn't it would allow for light armor as well. This would save SP from mage armor spell being unneeded with master's touch. This alone would be enough to survive quite well in the low levels.
Eventually that bard level would become obsolete when your umd gets high enough and the lack of enhancements to your songs makes it worthless. This is when it would be time for a +1 Lesser Reincarnate to remove that bard level.
Basically, what I'm saying is that you'd eventually outlive the usefulness of that bard level, but in the time that it was there, it would have been quite useful.