Yes.

Also, if you have patience, I think you can make Power, Defense, and Magic UPs... but maybe not... dunno, can't remember.

After I got the Keyblade from Sephiroth, along with Negative Combo ability, for a total of two negative combos, and the ability to chain finishers, I just explosioned, then thrust the keyblade into the ground for a shockwave, and then pulled a storng aerial finisher... nothing really lived through that...

Also, I equipped Berserk Charge, for endless combos after Curaga.

So, you don't need max stats... but your best bet is probably synthesis.