I think the best would be NM Gear = Craftet HQ Gear with 4 Materia+4
If you have the time and luck, you can try the crafted HQ gear with the 5 best materia or safe some time and nerves and farm some NM.
NQ gear + materia = casual
NM/Dungeon gear = average (NM respawn time is very short and in dungeons you only need to open the chests)
HQ gear + materia = hardcore