Yes, that will be quite helpful, lol.
Half the battle of the game is figuring that shit out.
What's interesting about the game is that it's broken into scenarios with objectives. So you get this grand sense of time progression and epic tales of adventure.
Some other things worth noting about the game, now that I've thought about it some more:
High Karma = Good. IIRC, it makes you level faster if you're a good dude.
Be careful with age of characters. They can randomly die when they're old. It's kind of lame. You can make them immortal or give them years back. Or you can let them drop and then replace them with the same thing, but at level 0. Which... is odd?
That being said, take at least 1 Elf. They live to be like 90000.
Make sure you don't ignore enchanting at the magic guy. It's awesome.
Your party leader should have a high vitality so he can open doors (and this gets harder the farther in you get)
Don't forget to doof around looking for loot in the dungeons. Some loot doesn't trigger until you do what you're supposed to do. You're supposed to give the king guy presents after scenarios complete. If you like the loot and want your guys to use it, f*ck the king. Keep the prizes!
Make sure everyone has ways to heal. Give everyone a potion, and shit. Healing (and defense spells) are important.
While the magic in the game is f*cking awesome (like seriously, awesome), don't skimp on having Rambo McShwarzeneggars in your party. Because of the treasure mix you'll get, you don't want to find toys your dudes can't even use
Enjoy the "what do I do with this item" shenanigans as you run around the levels. Running is exciting.