Effects of Level Drain

[Dr. Granola]

What *exactly* does getting level drained do to you?
I know it can impact HP, and if you go low enough you die, but does it also roll back all the other benefits of reaching a certain level?
Losing attacks, spell slots, etc?

[ultimatecalibur]

Not certain about spells known or the possibility of stat loss, but it should influence max hp, max spell casts, number of swings, XP totals, hit rate, lock picking, trap disarm chance, Ninja naked AC, Ninja barehand damage, aliment infliction rate and Bishop identification.

[nftyw]

You won't lose stats besides HP. You also keep spells known. There's also a Neat glitch (at least in Five Ordeals scenarios) where if your party is completely killed off after losing multiple levels, the game doesn't reset the characters' exp to that of their drained level. This means that you can revive them and if they were at level 7 and were drained to level 1, you still have their exp intact and can raise them back to level 7 again, complete with lots of HP, stat gains and new spells(!) enabling characters to have access to higher level spells before they normally should.

Naturally this is very finicky and dangerous as you can easily wind up with Lost characters and of course the only time enemies will ever not decide to drain you will be the time when you are actually trying to get them to drain your levels. Combined with the need to actually wipe out your party and the risk of losing characters just due to party wipe, this makes this technique only really viable if you're willing to do some save-scumming.

If you're really losing your patience with certain scenarios, this might be a good way to take a shortcut to higher level spells, at least until it gets patched

[Dr. Granola]

Do party wipes risk Lost?
I only knew of old age (lose too much VIT on level up) and getting ROCKED

[nftyw]

It may depend on various factors but once in awhile when I let a party die I will see a party member vanish.