Normally the best bet in 1.07 is just to push on. You'll likely finish NM in the mid fourties and hell in the mid sixties IIRC. Never found much need to level.
What character are you?
I'd agree for a caster, but the physical damage characters need heavy twinking and/or L60ish to be viable in Hell. Or you can just grind, grind, grind your way through. NM shouldn't be that scary, even for melee brawlers--just watch out for FE and MS/LE bosses, especially w/Conviction or Amp Damage. Note that you will suffer significant experience penalties (in the statistics forum stickies) if you don't slow down and level at some point. Act 5 is my personal favorite to level in due to the target-rich environment and low damage from Imps and Thrashers.
In a related note, I made "Death" in a +3 skills ashwood bow for my L58 Strafeazon. I'll be using Immolation Arrow as my PI breaker (was going to use a CtC Amp Damage razor bow, but thought this would be more fun), as my merc uses cold arrow in a Nef'd Riphook w/Rattlecage. When the PIs run back towards me, they will be running through the firewall that immo arrow creates, then starting the process again.
Although the "Death" bow does about 1/2 the damage of Goldstrike Arch and half the AR, it's hit cases flee, knockback deadly strike, and -25% def properties actually make it a safer weapon than Goldstrike Arch. I don't have to mow down enemies with the Gatling gun that is GSA when half are a third are running away and another third are getting knocked back.
Now granted, Lem is not easy to aquire in 1.07, but Dol is fairly common and the rest of the runes are easy to get. I'd highly recommend making "Death" in a +3 skills bow and using Sigon's gloves + boots (and/or belt) for the 30% IAS. I'm wearing Goldwrap as well, but mediocre armor (30% LR/FR, 7 PDR gothic plate and a Peasant Crown) with the Angelic Jewelry, and haven't died yet. The build is very safe, and the +skills bows have low level requirements. It's so safe that I use it 90% of the time over GSA.
Anybody else have an experience with a "Death" bow? It seems like it will be slow, but safe in Hell.