I've gotten a number of good suggestions from you guys, and I think I've finally arrived at a team that takes the best advantage of the characters I've drawn as a F2P. I was leaning towards a flier emblem team, but I think feeding my 5* Camilla to Cherche gives me the best of what would be my flying team, and I could use her in a Flier team down the road as well. Combining that excellent Cherche with my Nino squad gives me:
4* Nowi +atk -def. Will give Luna, Triangle Adept, Quick Riposte, Spur Speed.
4* Cherche +atk -hp Will upgrade to 5*, give Brave Axe + and Draconic Aura from Camilla, Reposition, Drag Back, maybe Spur Defense. Keeping Atk +3 until I can give Death Blow 3.
4* Olivia neutral Fury, Swordbreaker. Keeping Hone Atk.
5* Nino +spd -def Desperation. Plan to give him Ardent Sacrifice, Life and Death 2.
It's not the typical team I've seen, but it has serious physical and magical hammers in Cherche and Nino, Olivia to dance, and Nowi to bait. It has synergy in other ways as well: my flier can reposition infantry units in certain maps, and Ardent Sacrifice Nino can heal Nowi or Olivia to keep them above the threshold for Quick Riposte and swordbreaker. The main downside is that both of the hardest-hitting units are green. However, TA Nowi and swordbreaker Olivia give me strong options against reds.
I'd aprreciate thoughts or suggestions - for example, which characters would benefit most from which seals? I'm leaning towards +spd for Nino and +atk for Nowi. I only have 20k feathers just enough to upgrade Cherche most likely so I won't be able to make 5* characters just for skill inheritance for a long time. Eventually I'd like to get Nowi and then Olivia to 5*. Thanks.