Just started to use a graphics tablet today. yes, that's the best thing for painting, and i use Blender with Tablet also (mouse just to zomm in/out) , 3D coat and sculptris i sculpt with tablet indeed.
For characters you can use some basic body base, why not minimalist and put more effort on clotes items something like that :
If you want specific bodys, faces you'll have more work indeed ! if you use Low poly and good painting skills , yes you can also follow original game design or some Warcraft character like ?