I've made a system where I can level characters to level nine in roughly 16-20 hrs of playing. This system I did until level nine with a Half Elf Ranger And yes this is considered powergaming for greatest exp/cash for your time spent. This guide is good for any class/race that can be created on Faydwer. I'll do it level by level for simplicity. This is meant for the character who wants to solo or sometimes group in the game.
Level 1-3: Bats, giant wasps, decaying skeletons, black wolves if you would like. Occasional orc pawns, and widow hatchlings may be thrown in level 2 & 3. Bats, wasps, etc. will continue to give exp. upwards to level 4 but it will become tediously slow.
Level 4-7: Move into Butcherblock Mountains (Head SW from the Priest of Discord lift). Don't worry about a bind, it's a short walk (5 mins or so). Once there, follow the path towards the twarge snake. This hunting area can be extending along the path until you hit the crossroads with the guard post farther down. At level 5-7 giant snakes and giant spiders should be killed as well, giant skunks give out at level 6.
Level 7-10: Dwarf skeletons found in Butcherblock Mountains. This can be started at level 6, but one must be careful. Dwarf skeletons may be found at the Golden Tower, and the Dwarven Graveyard (Druid Ruins). The Golden Tower may be found by following the path that reached the crossroads, do not turn, as that path will take you to Kaladim. Continue along the path until the end of the first turn there (right before the second), and look right. You should be able to see a canyon in the mountain landscape, run into it. Within 10 seconds one should find themselves in front of the Golden Tower. There are three dwarf skeleton spawns here; one close to the opening where you came in, one inside the tower, and one on the left side of the tower from the entrance. The Dwarven Graveyard (Druid Ruins) may be found by continuing from the Golden Tower into the canyon. You will find a fork not far from the tower, you want to go left. You will again find a fork not far into this. Go right here. Follow ahead, and you should find a glowing ruins area. There is a druid here that you may sell to for decent prices, not so good as the guild, but better than the Wood Elf NPC merchants. There are five dwarf skeleton spawn sites here; behind the ruins, towards the left and right of the ruins, in front of the ruins, and over a hill behind another shrine.
Level 10: Goblin warriors in Butcherblock and/or orc centurions in Crushbone. The Goblin Warriors may be found by taking the path to Kaladim from the crossroads. Down the path you'll find another guard post. Turn left there and you should be able to see a goblin camp. This is where (and only where) the goblin warriors will spawn. Three goblin warriors spawn here; one in each of the tents, and one at the campfire. Some will appear green, but a majority will be blue. Lowland basilisks and giant scarabs are also available for exp. Giant scarabs do not spawn in any specific point, and the stun from a lowland basilisk can be devastating. The orc centurions in Crushbone spawn nearly everywhere. Stay out of the castle, and beware of trains. Most everything that isn't a centurion will drop you like a rock from 20,000ft up in there.
Level 11-12: Skeletons in Steamfont. One must journey to Lesser Faydark and then to steamfont to reach it from Greater Faydark. The Lesser Faydark entrance is the first entrance you find going left from the fork out of Felwithe. In Lesser Faydark, follow the left wall, along the corner of the zone, and the first entrance you see will be Steamfont. Walk should not take more than 5 mins in Lesser Fay. In Steamfont, follow the path before you until you reach the crossroads with a watchman at it (Watchman Hal I believe). Take a left here. Follow the path until you begin to see the windmills. Go off the path in the straight line onto one of the rocky outcrops of the Steamfont Mountains. You should be able to see a large skeleton, commonly called the Dragon's Skeleton. There are four spawn sites here; one at the mouth, and three along the rear. Skeletons are not the only things to spawn here. Minotaur Slavers and Gnome Skeletons will occasionally spawn here.
Level 13-14:Back to Crushbone to go to the Castle.Renember to not enter the castle but stay outside.Here you will hunt legionares,emmisarries and oracles.If u get a good group go inside the castle and hunt in the Throne Room.(the castle can be found going to the left after the zone tunnel in CB)
Level 15-17:Now you have pretty much hunted in most of Faydwer and its time to move to High Pass Hold.This is a zone outiside High Keep wich is in Antonica.Here you will hunt either prisoners solo or group together and hunt the gnolls.
Level 18-20:Still be in High Keep.Group together and take on the orcs.
For armor .When you get to youre teens il sugest you buy Banded armor or Brzone.They are quite cheap and they good around 450AC in full armor.