It really depends on what missions we do. Like the last 5 require you to be Level 99. Class Abilities and items are more of a concern. For instance. I have a level 200 monk (Non game shark or whatever they call it today) who's hp is maxed out, 90 Brave, 40 Faith, and with decent mp. He's wearing Secret Clothes (Always Transparent and +2 Speed) and Brigand's Gloves (Haste and +2 speed?).
Abilities are:
Punch Art
(Item/Battle Skill/Basic Skill depends really on situation)
Mp Switch
Two Swords
Move +3 (I think. It's been a while)
Basically this guy absorbs a lot of damage due to mp switch which he can use chakra and restore it. I like to use Earth Slash to start fights. If they have some way to stop that I charge them and two swords them to death.