Just changing the Mon.Gen isn't really going to help, even dropping the time to say 1 minute respawn or doubling you mons, a x1 Mon is going to cause issues with a lack of mobs in a popular area for hunting.
At x32 you can easily get level 100+ in a few hours, which means MS & TP at, at least level 3, which would mean 100+ mobs dead in less than 10 seconds. Work the math out and you will see for yourself, though I wouldn't suggest anything higer than x3, but at x32 - x64 a x2 mon is more appropriate. Bare in mind as well Rouge, this comes from a vast amount of years of tried and tested methods.