Aye, horseshoes are an excellent way to fix skill point mistakes early on. Horse shoes can be found in most stables in the various cities. As for New Sorpigal, the monsters, items and chests respawn there every six months. So every six months or so, do a short trip there to grab the horseshoes. Don't worry too much about mistakes, tho. Be careful of course, but over the course of the game, pretty much every single character leveling details you will panic over early on will become totally insignificant later on.
Your character stats for instance, early on, every points, and then every five points increase to your stats gives you a +1 bonus to your accuracy, damage, speed, spell and hit points... but once a stat reaches 50, it takes a 25 points increase to a stat to receive a +1 boost. So all these "oh man, I could have gotten a +1 if I put one more point in that stat when I started" you panic about at the beginning of the game become totally moot when you're starting to acquire items that gives +20 to one stat and when you need 25 additional points to one stat to get your +1 bonus.
Then you'll worry about the resistance of your characters and hold onto all of your "+X to Y damage resistance" items, but eventually you will acquire spells that once mastered will increase all your resistances (and all your stats too) by several hundred points each, making most of your equipment a nice little bonus but nothing compared to the ginormous benefits of your buff spells.
By the end of the game, I remember that my buffs were so powerful that I ditched most of my stats and resistance improving equipment for items that gave hit points or "+5 levels" (and thus five additional bonus to their hit and spell points) while the buffs took care of the rest.
Maybe you will regret not picking the Merchant skill early enough so you can start generating and saving tons of money on every transactions, but by the end of the game it is possible to generate infinite money if you are creative enough to figure out how and patient enough to do it.
Maybe you will regret not picking Learning early on to start getting extra experience on every kill and completed quests, but while I finished the game at level 120, my friend did just fine at level 90.
Reputation is not that important, and before you start regretting doing actions that lower it, I can attest that it is possible to reach Saintly reputation, then lower it all the way to Notorious and get it back all the way to Saintly without much trouble.
The only thing I ever regretted in the game was selling my rings that improved the effectiveness of my spells. Because at some point it is possible to acquire artifacts that are a more powerful version of those rings, but little did I know was that the effect of the rings stacked with the effect of the artifact. It took me a while to acquire a second set of these rings to replace the ones I sold. But every other details became progressively meaningless by the end of the game.
