Considering it's after CT, it'd be kinda cool if everybody had around Lv70 stats, as though they were from a full CT playthrough already. But that would require changing every single enemy to be stronger so the hero doesn't just womp everyone right from the get-go.
On the other hand, the 999HP 99MP cap feels waaay more Chrono-canon-ish while you're playing. I'd stick with it.