I'm not a bard expert by any means, but i dont really get the sword n board style... bards typically have crap AC anyway, so just got TWF for more dps seems better to me.
the 16/2/2 build seems really powerful, at least until they add warchanter 3 PrE in. 16 bard / 2 ftr / 2 barb. i dont know that much about that build though, that's Gunga's build. it uses GA and is dwarf i think, like Sontro but with barb. really shines if you like twitch fighting.
my bard is going 16 / 4 ftr. GTWF khopesh human. dps is very nice. 4 ftr for the weapon spec - slash.. if warchanter 3 is awesome i might LR+2 to go back to 18/2. Fighter haste boost is a great complement to GTWF. Human versatility dmg boost at the same time as haste boost for lots of big numbers.