[LordSkie]

Well, from what I can tell- early on, levels are indeed more valuable.

Here's the quick reason why- levels are easy as anything to gain early on (low xp requirements, and higher xp from crimes, same EP needed for fights in relation to max EP, roughly 1/3) whilst training stats is slow as anything (low level houses, low EP refresh rate).

What you'll find is, IMO, it starts at around an 80/20 ratio in favour of levels (that's just a random figure, it's got no basis- just to get the point across). As you grow in level, stats gradually become more and more effective, as the speed in which you train increases, and the rate you level at decreases. Eventually, training stats will become more worthwhile because you'll have a much higher EP refresh rate, good house, whilst your attacking will still be as slow as before, but now there's the added problem of needed tens of thousands of xp to level.

It's all a question of balance still though, increasing level increases AP and EP refresh rates, which in turn makes training better, so in my opinion it just levels out to a 50/50 ratio as you get stronger, levels never become invalid.