this ones pretty easy coz i tryed doing on when i did my dos programming.
file format isn't too much of a problem. just hope your good at drawing and/or modeling.
Like Ilya said intergers are best for HP and SP and don't forget Mana. Always a good one to remember in my eyes.
Damage should be calculated with basic maths and then u got elemental damage. here is a sudo code way of doing it (plain english not code as such)
Weapon Hits monster
Damage equals random number between weapons minimum hits and max hits + strength
IF elemental weapon (eg.thunder) and monster is opposite (eg. water) THEN Damage is multiplied by 3
monsters HP has the damage taken away from it and if 0 or less its dead otherwise it still lives
etc etc
thing to remember is that if the monster is the same element then it gets healed from the attack.
i could list the hole lot coz i play ff type games all the time
if u do then i gladly will do. just don't come to me complaining of a head ache
hopefully this helps u out a bit.
oh and one more thing if you've ever played grandia or grandia 2. you'll know they are real time battles and not turn based. its worth trying that out