... are not very good for a "maximum output" walkthrough of Might and Magic because there is no formation involved. meaning if you have a mage and a knight, your mage will die in two hits and will have no xp while knight will of course survive but whats the whole point? Of course this game is good at offering different challenges and one of those might be to walk through the game with a "balanced" party but if the power of the party is concerned, I would focus either on melee damaging party or mage party (melee party for the light side because of buffs, magic for the dark side because of powerful dark magic).
Although it is kinda nice to have knight with very fast attack speed and lifesteal weapons heal himself and priest casts Shared Life to heal whole party using Knight's HP. A tactical approach 