[COLOR=sky blue]First Question:
Yes, You need 150 to become LV 2. You need 300 (2 X 150) to go to LV 3. We can lower it if need be.
Second Question:
i.e. Your DEX=8 and the Opponent's AGI=10
8/10 = .8 = 80%
This character would have a 80% hit rate.
I'll change it to make it easier. Let's say you got an 80%, now you take the damage done (i.e. 100)
80% of 100 is 80 damage
The hit rate is used to increase or decrease damage.
Your DEX is 20 and Opponent's AGI is 10
20/10= 2 = 200% Damage is doubled
Third Question: Correct. The attack and defense are equal. So no damage done and battle will be declared a draw. If you don't like, get better equipment and battle again.
Fourth Question

ame as above
Your STR=5 and Opponent's STA is 10
5X5 is 25 and 10X4=40
25-40=-15
Since you can't deal negative damage, no damage is done. You cannot get hurt by YOUR attack, only others.
Fifth Question:Exactly
Sixth Question:After doing the adding and multipling, take the final number, find the percent of that, add it on
LV1 human character's STR
1X3=3
3% of 3 isn't a point, no add on
This prevents lower leveled characters being too strong. The higher the level, the more it effects it.
Seventh question: Yes, all will start at one.
BTW: Money will be found like this
You win
Opponent's Level X 200
If you have questions, ask away.[/COLOR]