sfatula: Ninjas too, never used them before, trying to figure out on the Dos version, how they even work. There is no hide feature. I tried the no weapon and armor thing, seemed pretty worthless.
With respect to Ninjas, they're like Fighters with some Thief characteristics. Specifically:
* They get attacks like a Fighter (one every 5 levels), but they get an extra attack on top of that. This means that a Ninja will reach 10 attacks (the maximum) at level 40, and will start out with 2 attacks.
* They get the ability to instant kill. This is the same effect that certain weapons have, and the two effects do not stack.
* A Ninja with nothing equipped gets an AC of 8 minus 1 per 3 levels. This means that a level 12 Ninja without equipment has 4 AC, and at level 30 she will have -2 AC. Also, Ninjas without weapons get slightly better damage (I think it's something like 1-4 instead of 1-2). (Yes, this does mean that, to get a decent AC without armor, your Ninja needs to be a really high level.)
* Ninjas can inspect chests better than most classes, but not as good as Thieves. A Thief's success rate is Agility * 6 (capped at 95%), while a Ninja's is only Agility * 4 (which, in Sir-Tech Wizardry 1-5, can't exceed 72% unless an underflow glitch has occurred). Therefore, if you are using a Ninja instead of a Thief, it is a good idea to use the CALFO spell on every chest you encounter.
* Ninjas are as good at disarming chests as Thieves of the same level; both classes are as good as a character of another class who is 50 levels higher. (One observation; at really high levels, you can do without a Thief or Ninja, as other classes eventually get a decent chance of disarming traps.)