So, I just got this and am just reading the manual now. I have played all the Might and Magic games, and am vaguely familiar with Wizardry 7, so I don't think it will that hard for me. Anyways, I would like to know some good party combinations, since I'm new to this game.

Take a look at the pregenerated parties in RoA1 and RoA2, both have a Warrior, Dwarf, Magician and an Elf, those are the standard classes, take one of each at your first playthrough.

High positive attributes are far more useful than low negative attributes, so try to max them, especially strength is more important than anything else.

Maybe take a look at the answers in the thread I started earlier this year about party creation (in ROA3). Also the general hint thread I found quite useful! You should always have one of each: mage, warrior, elf and dwarf. Rogue is a bit useless, really, as the dwarf can do all your lockpicking.

The essence, though, is: roll, roll, roll ... until you have as many 13's as you think you can get.
To be honest, this process I found too bothersome after a while so I hex-edited my Party to treat them to some better values.
But, yeah, basically get everyone's primary values to 13 and most others too. Low negative values don't matter soo much.