I know this question is little weird, but really - does eating affects anything? Are some skills or stats decrease when the char is hungry? Or maybe it has some another effect i haven't noticed ?

it seams to affect my success rate with crafting and augmenting items.

if I don't eat I fail a lot. not sure if that is what it is for but I am not the only one that has noticed this in my guild. eating seems to improve the success rate with us.

I've noticed that after my mage had died a few times, she becomes extremely hungry and tends to fizzle alot more spells until I eat. Also remember that if you are low in stamina, eating will increase that too.

One can not live on UO alone.

Judging by the three completely different answers posted above, I think it's fair to say that food is one of the classic UO mysteries. I have never seen any evidence as to what food actually does, besides the obvious restoration of stamina, but I've heard many times that it affects this, or improves your chance to do that, and so forth.

I remember when there was a much bigger market for pets (nightmares, dragons, etc) and it was thought by some that food helped when transferring the pet (especially to a lower-skilled tamer).

I remember seeing tamers in Brit trying to sell critters..."it won't accept you as master...try eating something"

I don't know if it really has any affect but all my characters eat thier fill everytime I sign them on. It's been a habit for years.

...and don't listen to Queen Mum, she is just trying to get us all hooked on her cookies...then she will start charging for them!

Mmmmm... donuts...

Mmm... Mystery Food my favorite!

Taco Bell!!!!

Well according to the dev folk, food doesn't affect anything whatsoever except that hp regen and it gives a little stamina boost whenever you eat. The stuff about fizzling, enhancing, various success checks, is all superstition and nothing of the sort is in the game code.

Now of course, the devs could be lying and laughing their butts off...