With this disappointing conclusion to the Solitary Island saga, I have a new objective: chasing Deathgaze, the monster roaming the high skies. Now, you might ask, how do we find Deathgaze?
Deathgaze is one of those things that sorta work in the context of playground rumors. Like, hearing from your buddy how they were ambushed on the airship by a monster that then ran away and then maybe encountering Deathgaze yourself is cool. Adds to the idea that the game is full of secrets you may never see and such.
In an era of internet guides, it's just busywork.
The key here is that if we win an astounding 256 battles with the Cursed Shield, it turns into the Paladin's Shield, the best shield in the game - but it can only be equipped by the character who wore it for these 256 battles.
You can pass the shield around freely, actually. I'm not entirely sure, but I think at least in PR version you only need to win 256 battles total with the shield equipped by any character, not with the same character.
Since you'd want to do a grinding session anyway to bring up the rear, may as well use the shield.
Ribbon protects you from most status effects inflicted by it except Doom. Being immune to instant death (Memento Ring, some Rages) protects you from Doom, being undead (Lich Ring, undead Rages) makes it heal you completely.
Yeah, I share your sentiment. Arenas in RPGs are cool, especially when you can talk to prospective fighters before and after, and it's really hard to fuck up. Usually, at worst you just get a boring battle. It's impressive how FFVI has managed to miss the mark, and just how pointless it is. There is no particular reason to take control away from you other than create a fake difficulty.
Fortunately, there are very few unique awards the Coliseum offers. It's basically just Shadow and name cards. Otherwise, it's mostly a way to multiply unique relics and equipment. For example, betting Falchions (which you can just buy in some shop) gets you Flame Shields, as many as you like. You can also get a second Dragon Horn, which is good if you want both Mog and Edgar to be dragoons. And so on.
Personally, I only bothered with the Coliseum for two things:
1) You can bet Royal Gown (which is outclassed by Behemoth Suit anyway), which would give you Minerva Bruiser, the ultimate armor for Terra and Celes that nullifies some elements and provides great stat bonuses. The fight is easily won by just equipping a Reflect Ring and attempting to run away by holding down 2+3. You can't actually run away from Coliseum battles, but it prevents characters from acting, so the enemy would eventually just kill itself.
2) This one is more elaborate. You need Gogo with three Steal commands equipped, Brigand Glove to turn Steal into Mug and Safety Bit, a relic granting protection from instant death that anyone can equip. IDK if you have it. Gogo should have about 2k HP and best available armor and weapon (which isn't much, they top at, like, Magus Robe, Red Cap and Magus Rod) to survive the fight consistently.
Then bet either Holy lance or the katana you found in the Doma castle. They form a loop: betting one and winning gets you another and vice versa. One of the enemies you fight in this loop is a bird that has really, really great rare Steal. Unfortunately, it also has a common Steal, so you'd have to fight it a lot to get the good stuff, but it's actually worth it.
You can encounter that bird in Phoenix Cave, but it's a rare encounter, so the Coliseum is actually easier to do here.
Barring a couple of spots that I might have missed and which I'm sure the thread will be quick to point out (this is your cue to say that you can now point me to stuff I've missed), I think we're ready to tackle Kefka's Tower and the endgame.
You want to bring Relm and Strago both to their home town. There was a hint of a quest about the surfacing rock to the north, if you remember.
Also, a minor point: on the northern continent right above Veldt there is a forest area where you can encounter dinosaurs. T-Rexes, mostly, but also Brachiosaurus as a rare encounter. It's the best spot to grind your party if you need it, dinos give out a loooot of exp. I've done the cursed shield quest there and went up over 10 levels on everyone. Brachiosaurus also has a rare drop, the same relic you can get from the Coliseum I've talked about above.