I still think that equipment and Affection are accounted in the Total Power, since a lot of H Squads i have hover around 60k but have multiple evolved 5*, as oposed to my 4*, in them.
Those Warrior Rings do make a difference even if they are not upgraded.
Currently i do just the Total power sorting, since i'm in the process of making all 20 Girls evolved and so the power switches around like mad. But currently my H Squad gives 30% to Solar Blast Dmg and gets 3x from Healing Spots, so they can be durable. Hibiscus and Lantherna give the 5% Dmg Buff to themselfs and 3 other members, Di Yu gives the Defense Buff with the same buff.
The only Problem i would have, is that Edelweiss would be another Blunt character in my main squad, since i will be pushing her (Skill/Slot Reasons). But then again they do fine with their raw power on the maps currently there, where 12-5 only becomes a problem.