The levels of the Pokémon in this dungeon are quite big, but though you have been past dungeons, you'll be fine with the essential items. The Pokémon go from as little as Level 48 to as big as Level 53. You will meet other Pokémon lower than this (In Spacial Rift, there's a Drowzee lv. 15 and Bronzor lv 7-8. In Deep Spacial Rift, there is a Porygon who is lv. 13-14 and Lunatone lv. 14).
Palkia is easier then the Pokémon in the dungeon. It's level 48, which isn't too high, although his moves may trick you, so you should watch out. It can hit you by far, with Spacial Rend and Water Pulse, and up close, with AncientPower. Disable it quickly before it hurts you badly.
The Pokémon here are mostly in there highest form (there are a few. eg. Gligar, Kadabra). Not only that, this dungeon has no type theme. It is mostly mixed with types, so bring a team with a good move pool, and with multiple moves.
But no need to worry, this is a good training place for your Pokémon. Use this to your advantage, and train before you battle Palkia.
The weather is a little confusing, but mostly cloudy. For 3-4, it is cloudy weather. Then on the eighth floor, it is Sunny, so bring out the fire types and hurt Magnezone quickly. For the tenth floor, it is back to cloudy, and the 12th floors fog, while on 14th floor it is sunny again, so more Magenzone and Tropius killing (Which is good for training.)
Guest Legendary Pokémon in here are Darkrai and Latias (Only when special conditions are met), while in the Deep Spacial Rift has Latios. (Also only when special conditions are met). Not a Legendary Pokémon, but you can find Dusknoir, after, of course, the special conditions are met.
Also, you have to look out for traps. This is a bad dungeon to get into a trap, and it helps without them.
Some Pokémon to look out for are Xatu, Electivire and Magenezone. Xatu often uses Onimous Wind, which is a lose-lose situation. Good attack, raises his stats. Making it hit only harder and faster. So hit him With good range moves (room or straight line). Spiritomb is also a threat here.
Next is Electivire. He has extremely good moves, and can hit everyone in the room, like Discharge. Watch out for his moves that are mostly Electric.
The finial is Magnezone. He hits very hard, so be the first to hit him, and you will be fine with him.
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