That is a great all-around party. The only thing is, you'll miss out on a few good side quests without a bard...but that's a trifle. It's a great party for all-out strength.
The only thing is, you're a little light on spellcasters, and magic is a must in this game. You're going to be putting a lot on your mage. But that probably won't be too much of a problem, for the first game at least.
My original group:
Human Paladin
Human Ranger
Human Thief (dualled to Mage at 8th level)
Dwarven Cleric
Half-Elven Bard
Human Mage Specialist (Diviner, could cast most offensive spells).
I didn't have any trouble with this group; the only "tough" parts were when my thief was ascending up to 9th level Mage in the Severed Hand to get his Thief skills back...but by that time my Paladin and Ranger could bust through just about anything, and I used my Cleric to detect traps so they could be avoided easily.
Cheers,
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