Good question... This clears nothing up though.

From the mouth of SE

Strength (STR)
Increases damage dealt by physical attacks
Increases damage prevented when blocking attacks with a shield

Vitality (VIT)
Reduces damage taken from physical attacks
Increases maximum HP

Dexterity (DEX)
Increases accuracy of physical attacks
Increases chances of evading physical attacks
Increases critical hit rate of physical attacks and resulting damage
Increases parry rate for certain weapons

Intelligence (INT)
Increases damage dealt by magic attacks

Mind (MND)
Reduces damage taken from magic attacks
Increases maximum MP

Piety (PIE)
Reduces chances of your magic attacks being resisted
Increases your chance of resisting magic attacks of others

Elements
Increases damage dealt by attacks of that element
Reduces damage taken from attacks of the opposing element