my suggestion? if i would start again without any char but with all my knowledge and unwilling / unable to donate?
i would select a sorcerer (fastest leveling due to unique class abilities) and level up to max
i find 5 players which help me forming a guild, im far too busy with myself than wanting to do social stuff in a guild
later i can put my reincs into it and profit from guildboni, giving them all a regalia
i would try to get a lootpet and a mount ASAP
i would save up BC & farm until i can afford the beginners pack with 6xV runes
then i would attend in battleground as a minimum-geared and do daily reinc quest
if i do not attend in BG i would farm (either kill mobs or do astral)
i would not gear up 1 single piece
i would start to get all the cheap basic items which can be farmed in 1 or 2 days
after 7(or was it10?) days i have some basic things and my reinc is ready
i also have likely enough amalgam from the BGs for greatness (exchange amalgam for signs of greatness; i dont gear up, its worthless else)
i would start personal allod quests
i start to level my 1st reinc
while leveling it i gain a lot of gold from the quests if its enough i will use it for a iridescent jar, and what is above i will also use for simple improvements
i would attend in BG at least once every day for x2 bonus
i would set orderbonus to x2 BG emblems
for my reinc i would set orderbonus to x2 exp so i always level faster
i would level the reinc to max
if i get kicked of BG i would change to my reinc
then more reincs, i learn about all the classes this way
i play every reinc to max and i build personal allods for all of them
meanwhile, i have gained a lot of items
i never spent gold / BC on things which do not make my char stronger (costumes etc) or temporary things (potions,...)
better items no longer only take a few days for getting them but rather a few months
im being buying cheap items to sell them for a higher price
i keep in mind i can combine them to a better one incase i dont succeed at selling them for a good price
i accumulate more and more gold
i never waste it
over some time i have 13 chars, each with a personal allod, each with daily quests, each with x2 win in BG, all with basic gear and a lot if items
i have many auctions running and i still farm every day
i have much more time than the other players since i dont gear up
^ i can stay in this gaining-mode as long as i wish to get stronger
now, after some time:
im economically already strong enought to be not really "hurt" by spending gold in gearup
i select the class of the reincarnations i want to gearup & pvp with and start gearing it up
i only do easy sectors and use green hammers
i am aware its not worth to spend time in hard sectors and to spend gold in better hammers for gear which gets reset soon anyway
since i already have a good economical strenght i still grow
^at this point everything else is just a matter of time while the process of growth is a self-runner
i do my daily tasks (which takes me under 30 minutes) and the rest i spend dynamic
is there is 100deter / 30% off bonus i do astral
if there is + 50% bg emblems i do BG with all the reincs
if i feel lik it i go to novograd and molest some ligs
i decide the game is worth supporting and send them a donation for their good work and for entertaining me for such a long time
... i think thats a solid base now which pretty much sums it up how i would handle things as a new player with old thoughts

i am sure this way is NOT for everyone (or even not for most) but maybe someone can profit from my shared thoughts at least partially
btw, for your comparison which was like "its like fighting vs a god as a worm" or something: if you are "full cashshop" and only a little bit behind in gear you will still lose vs the one with "worse cashshop" but which is "fully geared"
so the question is: rather lose a few 1vs1 battles and save the time and effort of top-gear or rather win every battle but have a lot of work to do (and the hardest part of this is finding players, coordinate and everything)