When I was new to the game, after buying myself a Beast Basher I started to buy the recipes for and craft the 2* "Kozma" suit (the typical stuff that's always available: Calibur, Blaster, Cobalt set; no bomb). My friend bought me an Owlite Shield before I made my Defender, and I used that in the meantime. I thought it was ugly, however, and it didn't fit with my Cobalt Helm and Armor so I totally disregarded it and raised my 2* Kozma suit to 4*. Thank goodness for the awesomeness of the Calibur, or else I probably wouldn't have been able to do it. I only realized how much better the Owlite Shield series is than the Defender series when I had all the materials, crowns, and energy for the 4* Great Defender. I was itching to finally get into T3 so I made that shield. The 2* Owlite Shield is still sitting in my arsenal.
Also twice already I have accidentally alchemized the first recipe on my list (Calibur) instead of the one intended because I was so eager to have the item.
As for revives: I did spend 155 energy in a failed solo of the Roarmulus Twins (whom I was able to solo the day before and the day after that try, both times with 3 revives), and not long after I could get fairly deep into T2 I tried the RJP with the friend who had bought me the Owlite Shield. We did not have ANY knowledge about what to do, though, so when we finally made it to the Battle Royale, we found ourselves running around the perimeter, shooting only one of the regenerating blocks to make it to the next "cell" and trying to kill the jelly cubes that were chasing us. We weren't really able to dent the king at all. Fortunately we realized how hopeless it was and didn't waste anything on revives.
One mistake that corrected itself: last night I was trying to get Hardcore and Gold Survivor solo [all my previous T3 runs had only been material gathering in stratum 5, so I had never actually seen the Core], and got a graveyard in depth 26 of the King gate. Not wanting to die, I ran to the end without touching the zombies. The next depth was either an arena or a clockworks tunnel, and I didn't want to go through such deep an arena (I am only 4*). I find myself coming up to the elevator surprisingly fast (there were no gates where you had to kill all the zombies before continuing), but unfortunately it displayed the arena symbol. I was waiting the elevator, but the phantom spawned in the area and I started kiting to avoid any damage. To my horror, I accidentally kited myself to the elevator, and had to go through the arena. Luckily for me it was just a poison construct arena, so it was simply a matter of avoiding retrodes, using the charge of the Ascended Calibur on the puppies and scuttlebots, and waiting out the poison if I happened to get hit. I made it through with much more ease than I'd have thought (the danger level was red for the first time in weeks), and was able to wait out the elevator to depth 28 until it was a Deconstruction Zone, where I cowardly ran through without laying a finger on the gremlins. Tonight I did the exact same thing starting from depth 0, except instead of accidentally going to the arena I purposely went to the arena, and attained Cradle and All and Dauntless Diver.
Lag blox!