Not sure if you want to change any of the Coliseum strategies, but something I wrote over in another topic sort of went like this:
Tear Round 1, 3 and 4 are all ok.
Round 2, if on higher difficulty modes, you should extend Fortune's Arc. It may not kill, and it may cost more TP, but (a) you've got cooking and (b) the extra damage can help lower HP values, and the stat boost proves to be very helpful. Also note that for those trying to get by without Fortune's Arc should stay away from Innocent Shine as the initial blasts knock the birds away into "Defenseless Mode" and thus, get missed by the rest of the attack.
Round 5, Holy Lance, better if prebuffed with Magic Charge, is IMHO, a better strategy.
Luke and Guy Unless special weapons are used for certain reasons (mostly just Guy and the Jewel of Gardios), the Vorpal Sword is a good way to shorten the fight against the Castle Golem. In general, it isn't too much weaker than better swords available so the 100-200ish or so drop in attack power shouldn't be too much of a big deal.
Official Topic Killer Guaranteed to kill the topic in 1-5 posts or pie for all!