As I keep mulling my party for a first time run through, I keep coming to a problem with this character, more than any other. When I look at the spells, I'm not that impressed, and when I realize that there is no "Lore" in this game, and identifying stuff comes down to Knowledge: Arcana (or is it Spellcraft?) and Alchemy, I can't help but think I'm doing something wrong here.

Of course, the songs can't be replaced, but I'm sure people have made it through the game without a Bard before.

Anyway, I'm starting to think I will go without a minstrel for my first play-through. I think if I play a Rogue with a high INT (18 at least), and multiclass him to Mage early on (after 2 or 3 levels), I'll still be able to handle all the traps and locks in the game, and have a more powerful character here.

Powerwise, over the whole party, am I better with a Bard 12/Rogue 2/something or a Rogue 2/Wizard X (this will be my backup spellcaster, as I've already got a Sorcerer there). I really think I'd be better off with this Wizard idea. I mean, I could even take a high ECL race like the Drow and kick butt since this guy will be the backup spellcaster (the original intent of my Bard anyway). What will also increase my power is that I don't need to worry about CHA anymore, since the Paladin will be doing the talking around here.

Since I'm going for power, would I be better off with:

A) Drow Rogue 2/Wizard X
B) Drow Rogue 2/Sorcerer 1/Specialist Wizard X

I've read that a Sorcerer 1/Specialist Wizard will have access to every spell because of the Sorcerer level. I don't know if that just means items and scrolls, or if it means I can memorize any scroll as well. It doesn't really matter, I know there are some spells that I'll just never cast and choose an appropriate specialist that way.

BTW, since a Drow's favored class is Wizard, does that mean Specialist Wizard too, or is it only a Generic Wizard?

A Rogue[2]/Wizard[x] will definately be more powerful than a Bard combo spellwise. It is a matter of what you are comfortable with and if a Bard does not figure in your scheme of things then by all means leave him behind.
If you want more than 2 leels as a Rogue, wait till you can cast 9th level spells before doing so.

As far as using another spellcasting class to give your specialist mage access to all spells goes, it allows you to learn all spells.
Wands do not have any school restriction iirc, so that doesn't matter anyway.
However you will not be able to cast a spell from a scroll of an opposing school.

With Drow males, you can take a specialist with no worries. Their favoured class Mage includes specialists.