Again as an avid gamepad user I have no issue with speed in selecting abilities on the bars, even using all 3. Then again I set my bars up strategically so that at any given time I'm usually no more than a few steps away from the next skill I need. It's not as bad as it used to be when we had manual attacks and you had to return to 1 on the first row every couple of seconds.
As far as seeing cooldowns is concerned, that's never even occurred to me as an issue lol. During a tough fight I generally have quite a bit on cooldown and I can easily tell when it is or isn't available. The only thing that hinders that is the timer sync bug.