I'm a newbie to the game and just build up a team to my taste. I did made some mistakes in the races I choose for the classes but that all.
I should recommend a fighter or a Samurai, take a monk or a ninja. A priest or a Bishop for Divine magic (A must in my opinion). I love the bard he can deal a lot of damage in background when you melee guys are hacking trough the mob.
My first Wizardry party:
Samourai Hobbit M
Ninja Hobbit F
Monk Ferie F (no comment on this, I mixed up with a spellcaster
)
Bishop Elf M
Bard Mook M
Priest Dwarf F
All in one a good team but with mistakes, but it's the first time I played Wiz games so I need dome practice.