As far as I remember...
Pros:
Only 9 points and 4 slots, so there's space for a 2-point character, or a 1-point character and Nall.
The late buffing games are awesome.
SH status blockers.
Curvy Hilda gets early ID (I wanna say... Late Floor 2 or Floor 3? It's right before La Sirene shows up, at any rate).
The buffs can be really awesome.
Cons:
Jane doesn't get Follow Me until Floor 4.
Jane is very, very frail.
WCYD hype. It doesn't really exist.
Flame In My Soul doesn't show up until late Floor 6 or Floor 7.
- Also, Ricardo only has his Stellar Magic and Rainbow Oath/Hot Blood/Red Ties Legend/Road to Glory until about Floor 4.
Dream Porter isn't until Late Floor 6/Floor 7, either.
Revival - Hilda's doesn't show up until at least Floor 5 (whenever you can get into Moana Village, requires Curvy Hilda), Shania's requires L5 Orca Statue (which isn't likely to happen early unless you're gimping the other fetishes - it requires a total of 480 Soul), and Ricardo and Jane have none.
Due to how the ring upgrades for SH2/3 characters work, that team looks rather anemic to causing damage unless they blow through their MP.
Except for Ricardo's Serenades and his Arc Mirage (SH evasion... What?), all the buffs are ST and dispellabe.
You can cover some of the bigger resource holes if you pick a good supplementary character to go along with that team so far, like Lilka (can basically solo some of the early floors), Rosa, FFT Monk, FF5 Red Mage, Bowser/Nall, Adray/Nall, or whatever other combo you'd like to think of. Basically, whatever you'd like to do to plug up at least one of the following holes: lack of early revival, and lack of early non-expensive damage (or lack of damage altogether, in Jane's case).
Of course, I might be analyzing this incorrectly, and other interp calls will probably need to be made.