ussnorway: Thanks every one for the tips.
I started M&M7 last night and after much uming and aring I finally picked my party;
1. Dwarf Paladin named Daniel, 30 might, 20 personality, 30 endurance, shield and repair item.
2. Elf Druid named Joeseph, 30 intellect, 12 personality, body magic & meditation.
3. Elf Ranger named Angela, 30 accuracy, bow & disarm trap.
4. Elf Sorcerer named Alexis, 30 intellect, leather & air magic.
Now I can actually start playing tonight. I’ll probably get smeared but this gives me a tank, part time thief and lots of magic so they should hopefully give a good account of themselves.
It looks like a balanced party. Maybe not "the best one" on a powergamer point of view, but for a first playthrough who cares ? And all casters is a really cool thing to have, especially after a while (as often in RPG, mage start weak ^^).
And honestly, the MM serie is more forgiving than the Wizardry one (not played Wiz 8 for long though, only 6-7). You should be alright :).