I'm not sure if I have a favorite party or not, but I like battling with Kid, Janice, and Orlha a lot. Of course, I can't do this until near the end of the new game plus and I have to put one of them on the relief charm.

For the beginning of the game, I use Serge, Poshul, and Leena until I get to Termina. Then I replace Poshul with Guile. I then go to the Viper Manor Bluffs, but I return to Termina immediately to replace Guile with Kid, and go back to Viper Manor. Once Kid is out of the picture, I bring Poshul in again until I get Razzly, who takes Poshul's place. Once Kid has been saved, she's back in the party with Serge and Leena until Lynx snatches Serge's body and stabs Kid.