The "best natural" style of rolls (keep hitting Reroll as much as you want, but don't use the + or - buttons to move points around) has always been my favorite way to roll. This allows you to have stats that are MUCH better than the average bear, but not so stupid as 1

00)/18/18/10/10/3.
There is
*NO* armor in BG1 that will allow a Bard to cast spells. So your best bet is to fill your spellbook with non-combat spells, pre-combat spells, or spells that you can safely cast from out of the enemies' sight range (Identify, Invisibility, Mirror Image, Haste, Resist Fear, Fireball, Web, etc), and let someone else handle the direct-damage stuff (Magic Missile, Flame Arrow, etc). Of course, you can always wear armor while using Wands.
Suggested party:
You
Kagain
Kivan
Imoen
Tiax
Branwen
2 Goods, 2 Neutrals, 2 Evils.
2.25 Warriors (Kagain, Kivan, Bard)
1.5 Clerics (Branwen, Tiax)
2 Thieves (Tiax, Imoen, Bard)
1.75 Mages (Imoen, Bard)