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Because the characters level with you, usually people wouldn't want to level up and just junction the shit out of the characters (because those pansies don't like a challenge). But if you're not one of those individuals, then that would be a good idea imo.

Yes, it's a good idea to do that, since you will improve faster than enemies with the bonus abilities while you level up. Fighting enemies with a high AP reward but little experience is your best bet, since GF abilities make you much more powerful without your enemies leveling up with you.

It's really up to your playing style. If you want to get the high end level spells early on then, shoot for level 30. But you gotta remember that the enemies get stronger as you do. Leveling isn't all that important in FF VIII.

Your idea is good though, with the various stat buffs. Go for it.

I just realized this thread has been dead for 2 months, sorry mods.