PS1/2 Valkyrie Profie 2 players here? (i'm test84)

PeaCe

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Hi,
when i reached chapter 3, the game got so hard.
i didnt even had problems in defeating last chapters boss, but this chapters regular enemies are real pain.
would someone please explain some? three faqs at gamefaqs didnt help much.

2-which party members should i keep in my party? there are lots of them. if i level up one and release him/her, i'll lose my party member and if not, there will be no reward i think. and whats the rewared of releasing?

3-at which level i should release party members? faq said that later you release is better, but how much and why?

4-what are runes? whats with equiping stuff and their color and icon?

and any general advice will be apreciated since there is no good faq here and there.
TIA.
 
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