According to a posting on the band's official website, bassist Michael Celi has left The Bled due to "personal differences that we felt [were] irreconcilable" No word on a replacement yet, as the band has already finished playing the punkrocks.net stage of the Warped Tour but promises that "the tours we have booked will continue as planned"
You can check out a review of their last record Pass the Flask which I found quite spiffy.