It might be early yet for a thread like this, but it's not too early for me, so here it goes. There used to be tons of threads about your current or favorite FF1 party, and the pros and cons associated. We should do one now, taking into consideration the massive overhaul DoS introduced. This is just a generic "your party" topic, whether it be your favorite or not, I don't care. Rating the party above you might be a nice and helpful diversion too. Just remember, there are no crappy parties, only crappy players.
My first party is Master Matt, Red Wizard Zorro, White Wizard Jesus, and Black Wizard (George) Bush. I'm at endgame now, because all I do is play FF1 at work. I always form parties with some sort of pattern or logic, and this has the most extreme specialist in each field, and one who can do all three. I don't consider tanks a party role in FF1 because no one character slot gets attacked so much more than the rest to require a devoted meatshield. In my opinion, melee, white magic and black magic are the three party roles available in FF1, so I formed my party accordingly.
My specialist mages first priority are the spells my redmages can't learn. Rather than have my mages learn only the best available spells, I tried to have them learn every possible spell, that is untill level 7 when the Red Wizard grinds to a halt. Quantity over quality, I guess. In theory I have the spell for every situation, though in practice, Flare, Holy, Healga, Curaga, and 'Element'aga are the answers to every situation, but what can you do? MP might as well be unlimited, for as much MP as I have, so I always let out the fireworks every battle. I can't imagine levelling, picking off each enemy one at a time.
For boss battles though, it's all about Haste+Temper+Master. No enemy can survive it - at least as of yet. I've already exceeded the NES limit of 10 attacks (20 hasted). I hear the Master's new cap is 16 attacks unhasted. I'm almost there, and throwing out 32 attacks with the str boost of Temper will make bosses pee themselves in fear.