Also, you level your magic by using the page items for the spells. In other words, you learn the fire spell from a Grimoire page and if you find another page that teaches the same spell, use it and you get the Lv. 2 version of it.

Status and Healing magic is the way to go. Offensive magic can be good but requires leveling to make them worthwhile. Also, your magic power goes up the higher your Risk level is (finally a use for high risk).

I'm glad your playing through this overlooked gem of a game. Its truly Matsuno's lost masterpiece.