I'm very please with my party - I guess it's the first one I'll ascend with.
4 chars, no NPC's, level "Hard" all the time - 4 ppl requires some care with tactics, but they gain nice high levels. The kind of challenge I like.
Mook Ranger Great Sword + Eagly Eye Bow
Human Ninja 2 x Nunchaka + Boomerang Shuriken / whatever
Elf Psionic Staff of Doom (woohoo!)
Fairy Bishop (1 lvl Mage) trained Mage/Priest/Psi/Alchimist in that order. Wrist Rocket, rarely used 
Very recommendable party -
pros:
- excellent offensive magic (once the front row catches up)
- beautiful selection of high level one-target and attack all spells
- fire focus: everything burnable is - toast 
- very good ranged combat, can't complain in close combat
- 3 attackers with frequent criticals
- 3 ppl with stun attack - makes up for close being a little weak
cons:
- 4 ppl requires some care, one char stunned or not can turn the battle
- Defensive magic is concentrated on one char (but that's ok for heavy close combat)
- Ninja damage is fairly low (but crit! stun stun crit!)
- point distribution/training not easy
- Noone for the Fang/DE combination
(unless Psi->Lord)
- Ninja is stealthed early - so Ranger gets ass whopped!
- radius spells "condensed" on the Bishop (except fire)
Staff of Doom - that one changed my party completely.
My Psi lady recently reached Lvl 19... I wondered what to do with her... but since I found the staff of doom - yeehaa! she makes a good fighter already, damage is close to Ranger, of course attacks hits aren't up to, but she's learning quicky (I "monked" her for one level, maybe another, just to try).
Most time I was heavy on delay / disable / fry. Now, with the additional attack power, I can go completely physical, three good attackers, and my Bishop is busy keeping Stamina+Guardian Angel on the Mook. What a feast!
I just wodner if I can find a better (one handed) weapon for my Ninja. She's lvl 19 now, but I still have all the waterworld before me (and the easter eggs if I need some training
), so I guess she can still learn a new weapon - but what?