I have a party, I think, that covers all the angles:
Human Paladin
Elf Ranger
Half Elf Bard
Dwarf Fighter/Cleric
Human Thief - Dualled to Fighter
Human Thief - Dualled to Mage
I felt this covered any racial/alignment/class problems with quests/items. It also makes the party fighter heavy (which Gruntboy likes

I am also cosidering a small party of F/Mage, F/Thief, F/Druid, all half-elves; and a group of "Knights": 3x paladin, cleric, bard, and multi mage/thief for support.