Since you've mentioned The Pit I assume you are talking about MM7. I'm fairly certain that you can finish the game with any combination you want but of course some will be considerable harder than the other. In one of my favorite play-throughs I chose four Sorcerers so that eventually I would have only liches in my party. That was great but the beginning was very hard indeed. However, I didn't have to struggle with the Pit because I was at home there ;)

You're Right, M&M7. Should have said that.
Four Sorcerers. Give it a try. But I suspect I'll miss the knight. Once in a while you just need to thump some one.
Bob

The worst part are dragoflies kick your butt all over again ;) I made my party so that each of my guys specialized in one (and only one!) elemental magic domain and eventually all of them were grandmasters of the Dark Magic

I usually lead a number of fireflies to follow me to the Wand guy (Malwick?) so they kill him off so I can get the wand without making any promises. But you take some hits with this strategy and four Sorcerers would be hard.

But I'm warming up to the idea. Meteor showers for everyone. LOL.

Bob

How about sixteen Armageddons per day? :D