I found Elder Wyrm to be very difficult at first, but by just putting forth an effort with Gambits he became immensely easier.

Just split up the individual status-cure items between your 3 members (or how ever many you're bringing into this battle) and he should be a breeze. That's one of the things I love about this game, alot of your progress and how easy bosses are depends on how much effort the player puts into their gambits. s