Uh, of course it's a subpar Thief... cause it's a BARD!
But I think Bards ought to have a couple of Thief skills, since they seem to fit the archetype. Remember that not all DCs are super hard. For example, picking the pocket of a very drunk bar patron is probably only DC 5. So a +1 is entirely helpful. Can a Thief do it better? Absolutely. But a Thief doesn't have the Bard's other skills... and gets slightly less hit points on average.
I think the double healing rate when resting for the party is pretty nice. It could likely skew people to flee quicker and rest and regroup more often, rather than keep slogging it out in a dungeon.
Most of my modules seem to only take about 1 day of game time, but they are also pretty brutal. Having some nice passive healing might make running / camping more feasible.
Hamun Ry (Wiz 4)
Str 10 Agi 15 (+1) Sta 11 Per 11 Int 17 (+2) Luc 10 (Unholy House). Align: C. AC: 14. HP: 13. Melee +1, Ranged +2. Crit: d8, I. Save: Ref +5, Fort +3, Will +4.
Spells: 1: Choking Cloud, Comprehend Languages, Detect Magic (odd crystal growths), Magic Missile (mirror images), Runic Alphabet (Mortal) (ravenously hungry), Ventriloquism (rain of frogs)
2: Detect Invisible, Levitate (extremely difficult, d14), Mirror Image (20% chance to raise/lower luck by 1d3 points).
Equip: Ring of the Sand Djinn: +2 AC/saves, Invisibility for 1min/spellburn point, or unmake for great, unknown effect. Padded Armor, Longsword, Longbow, quiver w/20 steel-tipped arrows, 10 silver-tipped arrows, backpack, spellbook, quill and ink, sturdy parchment (10 sheets), 5 days rations, high leather boots, belt w/ belt pouch, gray robe, dark gray hooded cloak. Also carries 3 small mechanical toys: wind-up mouse, wooden puzzle cube, small jewelry box that plays a little tune.