How does leveling affect stats?

[Jarlek]

Alright, thanks. Clearly I need to put some more xp into ranged now. Just two more questions - AGI does increase swing speed, correct? And I've noticed from time to time my iron flesh or what not will increase as I level (At least I think I have). If this is the case, I assume that it increases when you reach a set amount of str or agi?

AGI does NOT affect swing speed. It only change your movement speed. AGI used to increase your weapon speed in original Mount & Blade, but not in Warband.