Right now Bard isn't terribly behind many jobs with the current buffs. I parse with my drg friend, and even without disembowl, you can put up great numbers. The problem I see with Bard is the same problem I saw in them pre-3.0: once the party understands all mechanics, there's no reason to have a Bard (or Machinist, for that matter) in the group. Why? Because you don't need manasong, you have enough dps to usually surpass any TP issues (quicker phases means less TP consumed), and you can replace a ranged with a better ranged like Summoner. That's why I ALWAYS suggest to a hardcore, raiding Bard to level a secondary, as you're only holding your group back long term. It's a sad realization, but sometimes the truth hurts.
On another note, I do feel Bard and Machinist are in a good spot dps wise. What they really need is better long term support abilities, something to benefit optimization over security for the group.