Where is the best place to level up in Final Fantasy 4?

Answer 1

Best places are by Dageurro (excuse spelling) just outside grand dragons. And fairy island (the ones that look like little cows) 'Yans' I think they are called.

If you have gone through to memoria the mobs inside are better than grand dragons but not as good as the Yans.

Answer 2

Early game, the V shaped area North of Mt Ordeals is great for level grinding. Late game, the Lunar zones are best for level grinding as they give great xp and gil.