My most recently successful party comprised of:

Fairie Ninja - CoC, and various wands/daggers - lockpicking
Felpurr Monk - Hands/Feet
Dracon Samurai - Sword of Four Winds
Mook Samurai - Giants Sword (and a great magic user)
Elf Monk - Z-Bo
Hobbit Ninja - Throwing/Sling - pickpocket

This was a great melee team with excellent stealth and many many criticals but stuggled majorly with magic users. Lack of priest skills hurt with no magic screen, heal all and resurrect. Also my hobbit ninja was a little redundant until boomerang shuriken but was an awesome pickpocketer. Most Difficult fight was probably the Greater Demon/Djinn of the Clouds, and the Sorceress Queen. Rapax Army was also difficult but I managed to lure the group into 3 separate fights. Overall a very fun party but required a lot of strategy during heavy magic user battles.