The great thing about Barefist is that it makes all physical attacks better, even weapon attacks. I think it's strength +30 or something ridiculous.
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Likewise, I think equipping !black also raises your magic power, but I might be wrong.
I think you're right, gloria. In fact, when you master the Monk class, you get the barehanded & +26 strength automatically w/ the freelancer & mime classes (as well as counter). Monk's have the highest strength of any class & when you master a class, the highest stats are inherited (this is why you should try to master all the classes, then go back to bare or be a mime [for magic users]).
I did not know Barehanded granted a Monk's Strength O.o
I did know that some menu commands (notably !Black and I think !White) grant the original class's Magic, so I guess it's only natural.
But yeah, mastering the Monk immediatly gets your Freelancer's Strength and Vitality as high as it can be, and mastering Thief does the same to his Speed. At that point Freelancer is just stupidly powerful, especially once you get to mastering other classes as well.