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SPD normally determines how quickly a character can act. In turn-based battle systems this normally means how quickly they can get their turn in. I understand all the other stats from my experience in RPGs.
In Trinity Universe, the battle system works by having each character act in the order they were specified in the formation. The enemy gets to act after all the characters have acted. The only exception to this is the Fury Chain where you can choose to have any character who has yet acted carry on the attack.
Given the fact that turn order is relatively restricted to a linear pattern, what is SPD used for anyway?