I'll give you some advice that Sinder_Velvin gave to me years ago - abuse the advantages/disadvantages system. Give yourself regenerating hp/mp and take some minor disadvantages like can't use random weapons/armour types. Also remember that weapons/armour degenerate over time/combat and so you need to replace them.
Did all that for char #3 and used only my long blade. The ghost there kills me in 2-3 blows, "shield" spell is useless, I whack on him with a claymore and whack, whack, whack, whack - nothin'.
Game is probably fubared and mobs ended up with quadruple hps or something...
svcks 'cause I got it running pretty great in DosBox and it holds up not too badly.