Just at the end of the 3rd area on new game. I've tried out a few weapons, the game really doesn't penalise you for trying them all. Build wise I'm just 15 all stats apart from Skill I think, not much point in specialising so early.
Current setup is medium armour Sohaya with Tonfa/Odachi. The life gain on kill helps out between shrines. I use poison shuriken and sloth talisman quite a lot with rejuvenation as well. Then spec some equipment for life gain as well like bow life gain on bullseye.
Seems pretty solid for first playthrough. Tonfa is quick and up close with nice move set and can destroy enemy Ki. Odachi is the heavy hitter and good at playing longer range footsies