[DF] The Road to 250 Points

[Greg 1]

There is an old and hallowed tradition in dungeon fantasy of creating a character at "first level" and letting them hack their way to greatness by collecting xp and loot. How would you handle this in GURPS Dungeon Fantasy?

Are 250 point PCs themselves "first level" characters? If not, how many points should a "first level" character have? Or is the whole idea of "first level" a broken one in a system like GURPS that works on CP?

What should the "first level" version of a template look like compared to the 250 point version?

Keep the Advantages and Skills, but lower the stats?
Cut down CP spending proportionally in all areas?
Strip points from skills in particular?
Strip points from Powers and other supernatural abilities in particular?

What sort of limits would you put on advancement from "first level" to 250 points? Would the PC be required to spend all character points working towards the 250 point template for their class? Could they buy any ability from the 250 point template right from "first level", or would you stratify the template abilities into higher and lower level abilities, with higher level abilities only being appropriate for PCs of a certain point value?

Also, if you took a PC from "first level" to 250 points, about how well supplied with equipment and magic items would you expect them to be by the time they got there? Better than a a starting 250 point character for sure (unless 250 points is first level...)