Yeah, I played the original on an emulator that I had way back when I was in my early teens. The PSP version I hadn't picked up since 2012 when I got bought PSP that actually works.
I'll probably get back to I, but I want to at least finish the PSP version of IV coupled with The After Years first. I've been slacking on that game since I.5 ReMIX.
IMO, the toughest thing about the original is that in combat, it does not redirect attacks, so if a hero was assigned to attack a monster who is already dead, he just wiffs completely. It definately changes up combat strategy.
Also, with no Phoenix Down and no real modern save functions (the game is on hold, and if your party is wiped, they go back to their last visit to an Inn, but you can't go back to load a save point) it is very challenging. Also, you have no party inventory, only 4 armor slots and 4 weapon slots, so you literally have to leave slots open to get treasure items.
It's definately a whole different game.
However, there are two fairly exploitable bugs.
1) Silver Swords (Mythril Sword in later versions) are available in Elfheim. Granted $4000 is alot at that level, but if you invest the time to build up the money, it is well worth it.
2) The Red Mage has not yet been nerfed, and is overpowered. He is slightly limited in spells, but casts at relatively the same strength as a White/Black Mage, and fights roughly equivalent to a Thief, in addition to being able to equip good armor and weapons.
In that version (dowloadable in the Wii for $5) my best strategy is to largely ignore magic, which is much more limited than the later versions and build a fighting party.
Early on, by the time you get to Elfheim, you can get the Fighters in Iron/Steel Plate armor, get the Red Mages in Chain, get them all Silver Swords, and put out a buttload of damage. Get 99 Heal and Antidote potions, Heals and Nukes for the Red Mages, and you are pretty much set to grind out the rest of the game.
In the endgame, you have enough good armor for 2 Knights. Put one in the Diamond set, the other the Dragons Scale and Aegis Shield. Give on Excalibur and the other Masmune. Endgame should look like this;
Fighter - Masmune, Diamond Armor, Diamond Shield, Pro-Ring, Ribbon
Fighter - Excalibur, Dragon Armor, Aegis Shield, Pro-Ring, Healing Helm
Red Mage - Sun Sword, Diamond Bracer, Pro-Cape, Pro-Ring, Ribbon
Red Mage - Defense, Gold Bracer, Pro-Cape, Pro-Ring, Ribbon