Elves, the very centre of First Age Middle-earth role-playing are characterised by:
Understanding (passive)
Subtlety (creative)
Valour
Skill
Strength
Endurance (mind and body)
Beauty
Each is represented not by 3d6 as in D&D but by six ordered categories: none, weak, common, high, great & beyond. Characters do not know where they stand within a category relative to other characters before contesting.
There is no 'experience' measure separate from these qualities which are not entirely static. Wisdom in Middle-earth is 'Blessedness', reverence for the Valar or harmony with the music of Ainur and needs no measurement.
A Typical Sindar of Doriath:
Understanding (passive) -- common
Subtlety (creative) -- common
Valour -- common
Skill -- high
Strength -- common
Endurance (mind and body) -- common
Beauty -- high
A Typical Noldor of the North:
Understanding (passive) -- common
Subtlety (creative) -- high
Valour -- high
Skill -- common
Strength -- high
Endurance (mind and body) -- high
Beauty -- common
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Considering the other Races now relative to the Elven qualities above I can provisionally note:
Maiar, have at least one quality and not more than three Elven qualities in the Beyond category. The lowest category for a Maiar is Common excepting Beauty which may belong to any category.
Valar, have all Elven qualities in the Great or Beyond categories, with three or more in Beyond, excepting Beauty which may belong to any category.
Maiar & Valar, have three further qualities:
Radiance (Visible Sublime Majesty)
Fire (Spiritual Intensity)
Shape-strong (Protean Nature)
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The qualities of Dwarves & First Men are vague in my mind until I have read all the Tolkien material I want to again, but provisionally:
Dwarves and First Men do not have the quality of Beauty. Further, Men do not have the quality of Subtlety.
A Typical Dwarf of the Blue Mountains:
Understanding (passive) -- common
Subtlety (creative) -- high
Valour -- common
Skill -- common
Strength -- common
Endurance (mind and body) -- great
A Typical Man of Dor-Lomin:
Understanding (passive) -- weak
Valour -- high
Skill -- common
Strength -- high
Endurance (mind and body) -- common
A Typical Orc from Angband:
Cruelty -- common
Valour -- weak
Skill -- common
Strength -- common
Endurance (mind and body) -- common
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Dwarves and Men will have one non-Elven quality too when I can make up my mind what exactly they are.