That's exactly what I used to do! Once I found that EOB3 contained spells like Time Stop, I started a new game right back from EOB1. I took my party into EOB2 and regenerated the Daemons in the Azure Tower, killing them until my fighter/cleric/mage was up to level 15 in all 3 disciplines. It seemed such a shame to have all these scrolls of high-level spells and have to blow the scroll for a one-time use.

By the way, talking of weapons, did you find those +5 throwing darts in EOB1? There was some special quest you had to do to get them... I'll try and remember what it was - I think all my manuals and so on are long gone. Usual thing, I lent them to somebody and he lost them.