The problem with ff8's difficult is that its balanced at two tiers. one is lvl (and monster lvl based on yours) and the other is junctions.
Unfortunately for modding, these systems are inherently broken.
Level difficulties vary monster, aka, a bite bug is always crazy easier than a ruby dragon of the same level no matter what. Also, some monsters have minimum levels, which sort of curbs this. unfortunately, different monsters have very different and sometimes extreme strength curves, with late game monsters having very steep curves as you level.
On the junction side of things, the game wants you to get spells relative to your level, such as through higher lvl spells being obtainable from higher level monsters. this is broken right at the begining of the game with triple triad.
Have fun trying to balance them apples.
want ff8 to be more fun? turn on enc-none, pwn bosses w/ limit breaks.