Just got whooped by the Balrog, and that was before his Rage kicked in. (It's sitting at 100%, and I'm NOT going to be the one to get rid of it...)
So, how do you veterans do it? I've got STR of 1082, DEF of 960, HP of 525 and MP of 543. (Dwarven plate, Greatsword, Short Sword, and Unicorn...