Yeah, people tend to overdo stat raising in this game. You don't need to get any spells past level 10 really, and getting weapon skills up to 16 is just unnecessary since the nastiest bosses have stupid high defense. In fact, the only places I particularly level up for are Deist Cavern, the Dreadnought, the Cyclone and the Jade Passage. With other places I'm usually in good shape for by the time I earn enough money to buy the weapons, armor and spells I need. Not to mention items.