Depends on what you mean by balanced threats.
A combat magus with shield grogs has a different threat level than a wafty and ethereal Jerbiton poet.
Starting with a Parma Score of 01 , possibly 02 , if someone has an affinity ; makes low level magical threats , threatening.
Situation modifiers , which affect targeting , such as thick fog or smoke.
Preparation time , can they buff everyone with all known protection spells or have to wing it.
I think that was one problem with the character gen.
Because we could not take a Major Story Flaw , most of us were compelled to take others ,
that seriously hampered our usefulness in the situation.
(Benefit of hindsight and all)
Had we been offered the slightest generosity to offset this , far less problems , imho.
Personally , i do not like the standard character generation system.
Actually , i rarely like it for any system , Ars is not exceptional in this regard.
You don't need to give 1000xp and 20 virtues for 10 flaws , but a few extras never hurt.
Give them after people have submitted their characters and backstories.