Nope. Doesn't affect spellcasting either. It's just heavy and affects with your mobility.

Sure, why not? Axes are fine.

You're describing my all-time favorite character. However, probably not recommended for your 1st DF run. Magic, especially levitate and recall, is very very useful throughout the game.

[edit] That sounded bossy. Do what you want

Yep, I've heard Levitate is important but I'm thinking I may be able to get away with a high Jump skill....so here's my new custom class, what do you think?

PRIMARY:
Critical Strike
Archery
Axe

MAJOR:
Blunt
Stealth
Dodging

Misc:
Short blade
Climbing
Jumping
Running
Etiquette
Streetwise

Bonus to hit Humanoid
Expertise in Missile Weapon
Forbidden: Tower Shield

An important rule in Daggerfall is to save often, and even more often.

This allow you to not be too frustrated if you "fall in the void" (happens even with patched version) or at low level when you can die from nearly anything if you are unlucky or make the mistake of overestimating your character (fighting hand-to-hand with a bear/skeleton at with a level 1 character that is not particularly good at hand-to-hand by example ).

Another rule when you are very low level of character is to sleep often to get healed from each fights. But carefull when sleeping, you can wake up attacked by a monster, and at low level it is a catastrophe, so save before sleeping

In the 1st dungeon, your goal is to escape from it before anything else, exploring Privateer Hold or trying to kill anything on sight can lead your beginning character into his death. When you see an enemy in a room, do not feel you are forced to kill it, at level 1 actually running to the exit avoiding the enemy can give you better survival chances.

Diseases can be deadly for low level characters, as there are then chance you will not reach any temple in time for a heal. Avoid being hit at all cost, hit and move back to avoid the monster retaliating (as those pesky rats can carry diseases).

Privateer Hold Imp , unless you have a weapon of specific material to be able to hit an Imp or feel you level 1 character has enough health, avoid each Imp at all cost, their "hello" spell they always launch as soon as they see you can kill a level 1 character in 1 hit if the resist speel roll fail.

In the room that contains the exit of this first dungeon , there is an Imp. So save before entering this room, as if unlucky its speel will kill you when you enter the room.

It's actually very fun to play a "gimped" character. I almost always restrict myself to leather and chain mail only. Makes the risks more exciting. Besides, that ugly plate armor doesn't overlap well with clothing.

that's besides the point, for someone new to daggerfall, they should know that leather and chain do not improve beyond what you find at level 1, while plate armor does improve.