The most effective way to make 2.5d graphics

So um, I’m currently thinking of making a little 2d online rpg game here.

One of the things I would really like to hear other peoples opinion on is:

what is the fastest way to do 2.5d graphics?

I’m looking to try to make something along the lines of mu-online or trickster online. From what I can see, it is probably just sprites being drawn on the screen. The question is how do you make those sprites from all the angles? Do you somehow make a 3d model and take screen shots from different angles? Or do you have to somehow actually draw all the sprites, which seems illogical, since you would need like infinite amount of sprites if you are to add multiple armors, weapons to the game.

I’m thinking about 2-2.5d, but the more I think, the more it seems that 3d would be the easiest way to do it… I mean, years ago people used to make 2.5d to fake the 3d, because computers weren’t fast enough. It probably is easier to make 3d stuff instead of 2.5d.