So i may be a bit of a masochist. I recently started working on SMN in my down time. For reasons i couldnt rightly explain, i decided that i wouldnt summon any carbuncles until i had a summoner soul stone. So i can report that you can actually get through the entire arcanist line using ruin, DoTs, energy drain, and fester. I had a combination of brand new gear and crafted. And while i have some understanding of caster play(being a BLM main), i was figuring the class out as i went. So yeah, is perfectly doable.