That was an awesome battle-I just did it last night. Walked in there, got killed, came back, left the caverns, spent some cash on the -aga level spells, came back, saved at the nearbye save point, dispelled my entire party, recast ALL of my buffs (even the ones I never use), walked back in there, and the fight went my way in the same way it went his way last time.
An excellent fight when your party is in the entire 30 spectrum (highest going in was Vaan at 40, lowest was Penelo at 33). Telekinesis helps, but it really depends on your party layout. Me. I magicked him down so fast he didn't have time to become immune to it.