The ultimate answer is dependant on you .. what are your tastes, what do you wan tout of the game? If you want to be able to use adn do everythign in the game, you will get one answer. If you wan tto concentrate on magic, or try to minimize magic use, you will get other answers.If you are just starting out, include at least 2-3 fighters ... the rest, just use what you want, and recruit others you find. Play and play again .... you will find your best party.
Right now I am playing 4 fighters, a ranger, a bishop and have recruited a bard and gadgeteer. An awesome party, but every time I find a shuriken or other martial arts item, I am sad I have no ninja, monk, samurai .... guess I need to play one more time.
Actually, I am planning on class changing at least half of my fighters to elite (the swordswoman to a Samurai and my polearm gal to a Valkyrie), so this may end up being the best party
Until the next one.
Tools for Wizardry(r) 7
If you just want to win in the quickest/easiest way, without getting overly into character development strategies etc go withLizardman Fighter
Dracon Fighter
Mook Fighter
Mook Ranger
Hobbit Bard
Faerie Bishop
You should "train" the bishop a little to get best value from him/her. The others will develop themselves doing what they do best.
You can recruit a monk and valkyrie both of which will stay with you for most of the game and both will go to the cosmic circle.
It is a simple but kick ass party.