RP means Role Play- aka do you like how it looks?
Tier'dal stuff is like a really dark blue color. Pretty cool looking.
The main difference between the two is INT vs. CHA. For bards Charisma is probably better, although not much of a significance either way.
As has been said in many places, armor is mostly irrelevant for bards past level 20 or so, so pretty much get what looks cool to you. Patchwork armor + nice instruments will allow you to be 99% effective as a bard, so as long as you've got that covered it's all personal preference.
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