Single Stats and their uses
Stat Uses Counts Towards
Strength Strength will allow you to carry more things as it gets higher. It also adds to your grope, and attack, to form the maximum of your base attacks. Strength will lower the fatique cost for weapons. Life
Dexterity Dexterity will increase your amount of attacks you have when you will battle creatures. The formula for this is simple: You start out with one base attack. At every 20 Dex you will gain a new attack, starting at 10. So at 10 Dex you'll have 2 attacks, at 30 Dex 3, at 50 Dex 4, and so on. Dex also powers up your scrolls. Life & Fatique
Constitution Constitution will add to your grope and attack, making you hit at least a minimum amount of damage. An important stat, only second to Dexterity. (Consititution gives your attacks a better consistance, meaning to say you have more chance to do higher random damage then lower random damage(unconfirmed). Life & Fatique
Wisdom Wisdom affects your spell powers. Your Town Portal and Teleport spells will work better when Wisdom gets higher, and Teleport has more places. Wisdom is needed to receive certain quests also. For Mana Weapons, Wisdom increases your attack power like Strength does for normal weapons. Wisdom increases the power of the fire scroll as well. Mana & Fatique
Intelligence Intelligence allows you to enter new areas, where you can do new things. For Mana Weapons, Intelligence increases your attacks in the way Dex does for normal weapons. Intelligence also affects the power of an ice scroll. Mana
Charisma Charisma will lower the prices at shops, and will prove useful when you buy things. For Mana Weapons, Charisma counts towards attack power, like Constitution does to normal weapons. Charisma also plays a role with getting inside Elven Village. Mana

Dexterity --> Attacks Calculator
Dex     Attacks
Attacks --> Dex Calculator
Attacks   Dex

Other stats
Stat Uses Calculation
Life Life are your Hit Points, in other words the amount of damage you can withstand that monsters do to you. When Life is depleted, you die. Strength + Dexterity + Constitution
Mana Mana is your amount of which you can cast spells of. When Mana is depleted, you can't cast any spells. Wisdom + Intelligence + Charisma
Fatigue Fatigue is your tiredness. When it's depleted, you're too tired, and you can't attack anymore. You should rest, or heal with food. Dexterity + Constitution + Wisdom
Wall Score Wall Score is your overall score of your progress in the game. It's reflected at the Wall of Flame, and it will get you to new ranks. Some items have Wall Score restrictions, and can only be sent to those with certain amounts of Wall Score and higher. Strength + Dexterity + Constitution + Wisdom + Intelligence + Charisma + Quest Points
Sleep Sleep will get your life, mana and fatigue back. You can only sleep safe by the fountain. Wisdom + Intelligence - 30