If built for -built- for PvP/PvE, rogues are hands down one of the most deadly, and utility-based classes of all times. However, if you build to excel at skills that don't involve PvP/PvE, you may find the class a bit to your displeasure as most people will have higher counter-bonuses in items to what you will have for skills, save some powerful heirloom items that are not found these days. I will also say that RP as a rogue-based character is some of the greatest RP I have ever had on this server, and when the RVT is hiringon an active spree, I recommend people to seek them out assuming you are at least neutral. EDIT: Seriously, the RVT turned my 'new' server experience in to something very thrill taking.
Honestly, having a terrible PvE/PvP build is one of the worst things to realise once you have hit a decent level, but don't let it detract from the RP (what really counts).