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I've experienced a similar oddity as Varaya: AC seems to be calculated as Armor bonus+Dex bonus+11. It should be 10+Dex bonus+Armor. I've noticed...
Strange, the game ran fine for me after removing the patch, rescuing Prince Thrommel, and reinstalling the patch. I did have my entire party...
I've also had the problem with Prince Thrommel. I was able to work around it by uninstalling the patch, rescueing him, and returning to Hommlet...