I suppose depending on the specific outfit a slimmer Phicen body will do. Mostly because of the wrist peg issue, I will not recommend M31 (it will also have slightly noodle-arms), although that would be the easiest one to dress in 1/6-scale clothing and equipment. M33 should be a good choice, you might want to use its ankle extenders for extra height -- I am assuming they will be covered up by the outfit. M32 might also work and be easier to dress, as it is a little slimmer. Especially if the lower legs and lower arms are covered up by the outfit. They all have the same excellent articulation, although some this might be limited by the outfit itself.
Are you doing Spartacus, Crixus, or Maximus? If Crixus, the M34 would work, provided you can stuff it into whatever outfit you are going for. Otherwise, M34 would indeed be too big. I think M33 should work nicely. Look at my Theseus and Peirithoos post -- the guys in the helmets are M33, the fur-clad barbarians, M34. For a better look at the latter, see the guys in my Thor 2 post or the custom Conan the Destroyer post. Now M34 is not the most pumped-up bodybuilder type by current standards, but I think he might be a bit too buff for Gladiator and Braveheart.
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