From: Weakupedia | #017
what happens if i just ignore the item world for now?
will i just end up getting owned by a storyline boss that's level 5billion later
Item world isn't terribly important if you haven't finished the story, unless you're powering up a dark rosary for Val or something, then I guess it's kinda nice.
You shouldn't have to grind too much for story purposes, unless things have changed wildly. (I'm only on chapter 5, but I haven't really had to grind at all.) Even if you do need to grind, a few runs of something like 5-2 should be more than enough.
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Falcon Punch
http://www.youtube.com/watch?v=FFtw7qW7Vcw