Ok so here is how the stats influence the items in TheQuest.
Note that this is Alpha stage, we will adjust balance during Beta
*Base damage is the normal damage given in the original H2 code

Sword:	Base damage + (might / 2)
Any Magical Sword:	Base damage + ((might / 2) + ((wisdom - magic resistance) / 5))
Flying Fist:	Base damage + (wisdom - magic resistance)
Hell Staff:	Base damage + (dexterity / 5)
Magic Missiles:	Base damage + (wisdom - magic resistance)
Red Rain Bow:	Base damage + (dexterity + ((wisdom - magic_resis)) / 2)
Fire Wall:	Base damage + (wisdom - magic resistance)
Phoenix Bow:	Base damage + (dexterity + ((wisdom - magic_resis)) / 2)
Sphere:	Base damage + (wisdom - magic resistance)
Iron Doom:	Base damage + (wisdom - magic resistance)
Ring of Repulsion:	Base damage + (wisdom - magic resistance)
Meteor Barrier:	Base damage + (wisdom - magic resistance)
Tornado:	Base damage + (wisdom - magic resistance)
Ring of Flame:	Base damage + (wisdom - magic resistance)
Grenade:	Base damage + dexterity

Ok now this next table is how i calculate Experience given to the attacker.

target points = add might, wisdom, dex & magic resistance of target attaker points = add might, wisdom, dex & magic resistance of attacker difference = (target points *2) - attaker points If difference is smaller than 5, then give only 1 experience points to the attacker. Else, increse the attacker's experience by: difference / 5

This is a very basic explanation wich might be confusing, sorry its the best way i could figure to explain it.