> What is a good experience level to be at to start trying to find the key for level four?

When you can get to it without dying. The best way to find out if you're ready for a level is to see how long you survive on that level.

> OH, now I think that one of my Sorcerers has a cap of IQ and the other has a cap of Wisdom. I'm not sure how and when the caps work.

Have a closer look at these items. You'll see that they give the wearer certain attribute bonuses. The documentation will tell you what those attributes do. I think it's under the heading "RTFM".

> I have two knights, one Rogue, two Sorcerers, and a Wizard. Can you give me any hints about how to handle it when you are up against four monster groups at one time?

Yeah, attack the three that look the most dangerous. Try using your casters against the groups that seem most vulnerable to their spells. Otherwise it's kinda pointless to have them in your party at all.

I find that when my casters are still a bit weak it's best to have them all attack the same group, so that there's a chance they might kill some monsters before they hit back.

> It is hard to know what to do when there are question marks for one or more of the groups.

Well yeah, that's the point.

> There have been times where I found something valuable where there were no monsters. Also times where a deep pool has something that is not very valuable, like a cap or boots that cost less than $100.

Well yeah. They're random. You're not guaranteed to find something of a particular value in a pool. You're not even guaranteed to get out of the pool alive. Such is life.

Happy playing.

^v^:)^v^
FB