I hope to provide a bit more detail for the Archtypes you can select. Some information is collected from the web and some is from my personal preference and experience. The manual provided in the file download folder describes the selection process.
I use the term Saving throws instead of Negative Attributes because that is what they are and RPG gamers should still understand what I'm talking about.
I often use the Male term to describe characters with no disrespect to Females. It is simply easier for me to think in those terms but i do acknowledge Females do exist in games and as gamers. I also acknowledge I have much evolving to do as a Male.

Novice
I suggest selecting this method for beginners. Choose the Archtype you want, name it and select gender and picture. this allows you to get adventuring immediately. You will discover what skills, spells and attributes are desirable while playing. Follow my Initiating The Main Quest guide. When you are done with that you will discover what you could do differently and only waste an hour at most if you decide to start over.

Advanced
Using this method gives you complete control of how each member will respond to any situation. By selecting Choose Archtype the game will automatically generate your Attributes but will not give you a 13 unless your chosen Archtype requires it. You also will not receive any Saving throw number of 2. I suggest selecting New Attributes to get the best possible numbers.

This is the most important decision you wll make for each member of your party. It will determine which Attributes and Saving Throws are required and which ones will be most valuable during gameplay.

Jester
This Archtype can be used instead of a Rogue for open locks and picking pockets. They start with good Combat Attributes but are weak against Magic due to the high number neede in Superstition. They can make excellent all around leaders. In my opinion, They are the second best all around leaders behind a Dwarf. For a little harder playthrough select this Archtype.

Hunter
Excellent Archers and survival experts. They make great leaders in the wilderness regions or the dungeons because of their hugh Intuition. However their open lock skill starts low meaning every locked door you will have to reorder your party members. They can also restock your food, water and collect herbs. No magic skills make them less versatile than any Elven Archtype in combat.

Warrior
This is your classical soldier having the best starting melee weapon skill. Their versatility in any thing is limited to hitting it and hoping that it works out. If selected this member should be placed second in your party. I do suggest having a Warrior because you need a good swordsman for the final part of the game, however, any Fighter type can be given points in Swords at every level up.

Rogue
The classical thief is great leading your party through the city or dungeon. They open locks better than anyone and can make decent fighters. Archery skills are horrible and in the wilderness they are utterly useless. Leave this Archtype alone opting for a Dwarf locksmith instead unless you want a more difficult challenge.

Thorwalian
I have nothing good to say about them except their Strength is a little higher than Warrior but equal to a Dwarf. They are weak against magic, have a low starting Sword skill for end game purposes, and lack any real skill in any area. Leave them alone.

Dwarf
They are your best all around leaders. In the wilderness they are nuetral but in the dungeons will shine using combat, lockpicking and Intuition skills. In the city their Streetwise skill is bad but this is a useless skill anyways. Selecting a Dwarf or two will make your life easier or select no Dwarves for a harder challenge.

Witch
They have good Wilderness skills but are matched by any Elf. The required Attributes are the two essentially useless Attributes and their good starting spell ranks consist of many that have no effect in this game. Leave them alone.

Druid
The druid starts off with a little better spell ranks in useful spells than the Witch and also has decent wilderness skills but unless you want a harder challenge leave them alone as well.

Magician
For being a mage yhey start out with a surprisingly good polearm skill but the fact they can't wear armor and most likely have low Life Points means you don;t want to put this to the test at any level. Depending on which shcool of magic you specialize in will determine which spells are easier to cast. Some of the nonspecialized spells will remain virtually uncastable no matter how many points you place in them. By first sacrificing skill points for spell points and secondly spell points for Astral points you can upgrade and use more spells. At high levels the Magician can cast powerful spells once or twice every combat or alot of minor Spells depending on play style.

Green Elf or Silvan Elf
These Elves are great archers, good healers, herbalist and gatherers of food and water. When one of each is in your party they compliment each other perfect;y as one is slightly better in treating wounds, diseases and poison while the other is better at alchemy and herb lore. As archers they can flank they enemy from a distance delivering blows that cannot be returned. Magically they can use some domination or combat spells that eliminate the enemy or compliment your fighters. Only selecting one is a matter of one number here or there in skills and spell levels.

Ice Elf
I consider these Combat Elves as they lack the Archery skill possessed by the other elves. They also don't have nearly as good wilderness skills. They have better Life points and a better melee skill to compensate. They can also cast combat spells to decimate opponents or domination spells to put opponents out of the fight. Depending on the party style this character is expendable or valuable(more on that later)

No negative or adverse effects of low scores noted below may be exaggerated or the effects so small it is considered to be zero.

Courage
The higher this number is the better each member will be in Melee Combat(sword, axes,etc.) and restant to magic. This is a must to level quickly for all characters.

Wisdom
Magic casting and is directly based on the Wisdom score. For those characters that have a requirement of a high Wisdom this can be left alone for a bit but for those magic casters (witch,ice elf,silvan elf) with a low Wisdom raising this Attribute will increase your success rate. It also factors into Magic Resistance.

Charisma
Other than being a requirement for Magicians and Warlocks no connection or negative side effects have been noticed by having a low score. There may be some evidence that it inluences Domination and/or Demonology spells but no hard evidence has been revealed.

Dexterity
A high Dexterity is needed for lock pickers as a requirement but it also increases a mages success rate. For Fighter Archtypes you do not need to raise this skill as there is no negative effects otherwise.

Agility
The higher this Attribute the less you will be hit. A must have for fighters that want to avoid damage instead of trying to absorb damage through armor. Other Archtypes will benefit as well when enemies start flinging arrows and such at you.

Strength
Each person should have as high a score as possible. The more weight you carry the less you can move or accomplish during combat. Too much weight will eventually leave you unable to attack. The better armor you have the more it weighs protecting you more but slowing you down. Fine for your front line guy as he will usually just be driving up the middle of opponents anyways.

Intuition
No correlation between a low score and negative events have been discovered. Your skills determine surprise or ability to protect yourself when camping.

The lower these numbers the better you are at resisting effects or negative results directed at the character.

Superstition
This should be the first priority when gaining a level. When making a Grade A party (see Party Makeup) all members should have a low starting rank.

Necrophobia
This should be your second priority to lower. No Archtype requires a high rank so this should also be low for all stargting members.

Other Saving Throws
No Negative drawbacks have been reported to having a high ranking. The effects may be so minor it is unnoticable or there is no Connection at all. To be on the safe side though, lower your Claustrophobia and Acrophobia when the above two are at zero.

As no real Negative effect has been shown for having certain Saving Throws values high I suggest you raise your important Attributes to the maximum by raising these useless Saving throws. To make things a little harder for yourself or just to keep with the spirit of the game do not adjust your attributes unless it is to meet Archtype restrictions.

Combat
You should select one weapon to specialize in for the whole game. use the weapon skill they are already best at. Also backing this up with the unarmed skill for when your weapon breaks can be a life saver. One character should be highly skilled in the Sword skill for end game purposes. Magicians carry an unbreakable staff(polearm) but Warlocks and druids can go bare fisted to save on weight constraints. You can use the extra movement points to keep away from enemies or engage them on your terms.

Attack/Parry Values
I suggest raising your attack values to the allowed maximum. My reasoning is that you can only parry one attack each round. You can also only attack once but with the proper combat strategy you will be attacking the same opponent with multiple characters. Nothing is more fustrating than not hitting an opponent for a full round or more even when surrounding that opponent. As you gain levels this will not be as important but when starting out can make a big difference.

Body Skills
All Characters need to eventually have a decent Climb and Swim skills. The more weight you carry the higher these skills should be. Physical and Self Control should also be a concern especially for front line members. Stealth and Hide will only be a benefit when possessed by the leader. All other skill are not used or less beneficial than pickpockets to make money.

Social Skills
The only skill of use is Haggle. Even then money will soon not be a concern. After three failed attempts you will be kicked out of the store usually for a day. I usually don't worry about it but if you want it, only one character needs it.

Nature Skills
Tracking can be useful but must be used by the lead member is useless on members that will never lead your party. Orientation is of limited benefit as most if not all the times you get lost are scripted but if wanted it must be used by the lead member. Herb Lore should be a must for only one character. Survival is a must for only one member to restock food and water while in the wilderness. The other skills are not used.

Lore Skills
Alchemy is not essential but if wanted should only be a concern for the same person that has herb lore. Arcane Lore is a must for all Magic Users and will make a difference. Tactics are said to have an effect on combat success however i really didn't see much difference. All other Skills are not used or of limited use(reading for instance).

Craftmanship
Two members need to have high Treat Disease, Poison, and Wounds. One as a back up should the primary care giver needs treatment. You can not treat yourself. Open locks is essential if you don't possess the Foramen spell and is recommended anyways. Only the leader of your party uses this skill. Have extra lock picks just in case the first set breaks. Pick Pockets should only be high for one person and only if you plan on stealing money. Otherwise it is as useless as the rest of the skills.

Intuitive Skills
Every party member will benefit from increasing both of the skills every level. Mostly used by leaders and by guards during wilderness camping.

See my Spell Description Guide for details on specific spells. The spells selected now should be given levels consistently. At least one combat spell and Domination spell should be a concern for each caster. Treat Poison, Disease and Wounds should be selected by two members if possible to treat each other should they need it. Increased Attribute spells can be casted outside of combat and will last a good amount of time. Either place these spells on one person and replenish through potions or allow all casters to take some responsibility to reduce the cost to one person. The Fiat Lux light spell is a must as is Foramen unlock spell if you don't have a lock picker in your party(Lock picker recommended). All other spells are dependant on game play style.

Creating a character from scratch can take a long time but with great knowledge comes great time saving techniques. Keep a record of which skill and spells you want to increase for quicker leveling. Having each member specialize in non combat skills and spells will ceate a overall balanced party. A character with combat and magic skills are more versatile being able to exploit different wealkness possessed by enemies.