Lol, you didn't have to get rid of everything. She did say 500. If you gave up a few of your more expensive possessions (which you did), you could have kept one of your masterwork items.
*tally's up*
I hate converting sp and cp into decimals or seperate amounts, so I'm just gonna round up to 220. Right now, you have 220gp worth of items. So, while the masterwork rapier is out (since it would add 300), you could still get the masterwork armor (only 150 extra), and still have enough left over for a few of the items you got rid of. I would say you could keep the mule, but I'm not sure how that would work from a story standpoint, considering how fast we're supposed to be riding...
(if you can't tell, I'm a bit of a nerd
xp )
Also, good news! I'm pretty sure I read that bards don't incur spell failure percents for light armor.
(as taken from the phb
smile "Because the somatic components required for bard spells are relatively simple, a bard can cast bard spells while wearing light
armor without incurring the normal arcane spell failure chance."