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1) Dark Elves
2) Trolls
3) Vampires
The last time I played, I used a party of 5 Elves. I found 5 Devil's Scythes (bows that shoot fireballs), and you won't believe it, a volley of 10 fireballs left no chance for the mobs; no one could even get close to my squad. In melee combat, my Berserk Elves fought with daggers enchanted with vampirism, which guaranteed good healing.
I don't like Clerics and Necromancers because there are better alternatives for all of them, and they also depend on mana. For example, instead of a Cleric, you can take a Troll and give him a vampirism club, and voila, the need for healing disappears. You can also do the same with other members of the squad by enchanting their weapons with vampirism, and considering that I prefer to take damage dealers in my squad, they will heal well from their own attacks. A Necromancer can easily be replaced by a Dark Elf, as a Dark Elf can deal as much damage with regular attacks as a Necromancer with his spells, but the Elf's attacks won't consume mana, and the Elf can master all the main travel spells, and the Grand Master level is not required.
Oh, how cool! :D
By the way, I played the game with parties consisting of an Elf and:
four Trolls
four Minotaurs
four Dragons (the most boring playthrough)
four Vampires