The Ice Cave is a very hard dungeon in WSC and PSX versions. I don't remember it being all that hard in the original NES version. That place really freaks me out, and it made me finally give up my game of Fi/BB/Wm/Bm after getting a Game Over there six times. I eventually beat the cave with that party, but I didn't want to use it after that anymore. If someone says the Thief is useless because all he can do is run, this is where he gets to shine because I have him lead the party away from almost every battle.

My strategy is basically running away from almost everything that can seriously hurt you. Sometimes I use Fire and Dia (Harm) spells if I'm facing something like Ice Wolves or undead creatures. I usually go through the cave twice. First I collect all the treasures except for the Floater (I don't fight the Eye yet), and then I exit the cave, use a Cottage and save. Then I enter the cave again and go through it, fighting the Eye, getting the Floater and escaping the Ice Cave.

The 2nd time through the cave is a bit easier since I don't have to worry about treasures, and even if I get a Game Over on the 2nd time, I'll still keep all the treasures that I got on my first time through, so when I try again after getting a Game Over on the second time through, I don't have to go treasure hunting again.