dtgreene: Worth noting that, as stats get higher, the breakpoints get further apart. In fact, after a certain point I believe it takes something like 25 points for each +1 bonus.
HP from endurance is per level, and is retroactive; in other words, you don't need to raise your Endurance early unless you need that HP early, and you don't need to hold off on leveling before you raise Endurance. Note that this means that Endurance losses (from status effects, for example) will lower your max HP (though, interestingly enough, current HP isn't affected; this is one of the ways HP can exceed its maximum). (Worth noting that this is a change from previous installments, where your HP increases are affected by your base Endurance at the time of level up, and later changes don't change your HP.)
SP is based on Intelligence for Sorcerer/Archer, Personality for Cleric/Paladin, and the average of the two for Druid/Ranger. (Note that I don't remember whether it's the stats or the bonuses that are averaged, and I don't know how rounding is handled.) Again, it's possible for SP to exceed its maximum.
Speed affects initiative; once you enter melee, fast characters will attack before slow characters. This is most useful when it allows a character to attack before the enemy.
Your Flashing Spear will probably outdamage that Short Sword in most situations.
Worth noting that World of Xeen handles stats the exact same way.
Just noticed you asked about learning spells:
* Stats do not determine whether you can learn a spell.
* To buy a spell, your current level needs to be high enough. If you somehow find a way to temporarily boost your level, you can buy higher level spells, and you won't lose them when the spell wears off. Note that this requirement is only in MM3; the Xeen games removed this restriction.
* You can also find spells in the wild; these spells ignore the level requirement. They also ignore the price of the spell; this is especially for teaching spells to hybrids (Paladin/Archer/Ranger), who normally have to pay double. Most spells can be found somewhere in MM3; only some can in MM4,and none can in MM5.
* Worth noting that Druid/Ranger spellcasting's usefulness becomes less useful with each game. In MM3, Druid/Ranger get unique spells, including Walk on Water, which, seeing as the game world consists of a bunch of islands, is rather important. In MM4, Druid/Ranger don't get any unique spells, and are limited to spells that, at level 5, cost 10 or less; furthermore, they don't even get a few spells that would qualify, including one particular spell that is mandatory for completing the game. MM5 uses MM4's lists, except that, at any given shop, Druid/Ranger has a more limited spell selection.
Good to know that Xeen is similar, as I heard it too and that's the reason I started MM3 now so I can continue with Xeen next time.
Only played MM6-7 a couple of years ago first, both of them were awesome, and I always wanted to play the earlier ones too, like MM3-5!
