Yes, NPP protects against level drain.
My current make up could be called an undead hunting party, lol. Here's the makeup and their weapons:
Kensai - Mace of Disruption +2
Minsc - Azuredge
Keldorn - Daystar
Jaheira - Sling of Everard
Aerie - Sling +2
Jan - his crossbow.
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"Butt-kicking for goodness!" - Minsc
"Cities always teem with evil and decay. Let's give it a good shake and SEE WHAT FALLS OUT!!" - Minsc