At this point, no strategy should be ruled out, since this game is as hard, if not harder to plan, than FF1, due to manip limitations. I don't think there's really a way to make this look like a "walk-in-the-park" run as DW4 looked, since:
1- There are like 9 bosses in the game, one of which is completely optional (and useless) (Kandar 1), 2 of which gives no experience (Baramos and Zoma), and 3 of which are in the last dungeon(King Hydra, Baramos Bomus, Baramos Gonus). That limits us to 3 bosses, which have nasty HP regen features, crownies to help out (Kandar 2), nasty breath attacks (Orochi), and high chances to land criticals (Boss Troll). So moderate-to-massive leveling is required.
2- Turns are somewhat pre-scripted. Therefore, there is little we can do to manipulate damage all-in-all. So protective equipment will have to be taken into consideration.
Oh, and since everyone's gonna take hits, you may want to manipulate some drops here and there. Something good to manip would be with Hunter Flies near Baharata giving away Cloaks of Evasion (which is better than nothing at this point of the game). It might be a bit time-consuming, but since we cannot manipulate much in battles, we might as well go for damage-saving solutions.
Good other drops to watch for would be:
Boss Troll -> Thor's Sword (which is WAY better than the Thunder Sword)
King Merzon -> Magic Bikini (so make sure your other members are females)
Lethal Armor -> Full Plate Armor (if you don't have anything better already before getting to Samanao)
Minidemon -> Unlucky Helmet (Best Helmet in the game, if you don't care about the Luck attribute)
Another thing to consider would be this:
After getting Healall at least, turn your Pilgrim and Wizards into Soldiers. Why? Better HP, better overall power, and better equipment possibilities (including Demon Axes from Mimics, and Dragon Mails, which will protect them from breath attacks). Plus, if one of them has Healall, he'll still be able to greatly damage Zoma (since "Weakened-Zoma" gets damaged by Healall by about the same as Blazemost).
Also, best way to gain money would be near the end of the game, by hunting Thor Swords. One or two will most likely do the trick, though. The casino is out of the question, since fight results are just as scripted as pro-wrestling, and low levels = not much profit.
That's about all I can come up as far as a strategy is concerned. We'd need to dig the game mechanics more to see if there's anything exploitable we could abuse.
Karma can be vengeful, don't screw around wit it!